Common use of Ownership of Property; Insurance Clause in Contracts

Ownership of Property; Insurance. (a) Each of the Borrowers and their Subsidiaries has good title to, or valid leasehold interests in, all of its real and personal property material to the operation of its business, including all such properties reflected in the most recent audited consolidated balance sheet of the Borrowers referred to in Section 4.4 or purported to have been acquired by any Borrower or any of their Subsidiaries after said date (except as sold or otherwise disposed of in the ordinary course of business or as permitted under this Agreement or any other Loan Document), in each case free and clear of Liens (other than Permitted Liens). All leases that individually or in the aggregate are material to the business or operations of the Borrowers and their Subsidiaries are valid and subsisting and are in full force in all material respects. (b) Each of the Borrowers and their Subsidiaries owns, or is licensed or otherwise has the right to use, all patents, trademarks, service marks, trade names, copyrights and other intellectual property material to its business, and the use thereof by the Borrowers and their Subsidiaries does not infringe in any material respect on the rights of any other Person. (c) As of the Closing Date, neither the Borrowers nor any of their Subsidiaries owns any Real Estate.

Ownership of Property; Insurance. (a) Each of the Borrowers Borrower and their its Subsidiaries has good title to, or valid leasehold interests in, all of its real and personal property material to the operation of its business, including all such properties reflected in the most recent audited consolidated balance sheet of the Borrowers Borrower referred to in Section 4.4 5.04 or purported to have been acquired by any the Borrower or any of their its Subsidiaries after said date (except as sold or otherwise disposed Disposed of in the ordinary course of business or as permitted under this Agreement or any other Loan Document), in each case free and clear of Liens (other than Permitted Liens). All leases that individually or in the aggregate are material to the business or operations of the Borrowers Borrower and their its Subsidiaries are valid and subsisting and are in full force in all material respects. (b) Each of the Borrowers Borrower and their its Subsidiaries owns, or is licensed or otherwise has the right to use, all patents, trademarks, service marks, trade names, copyrights and other intellectual property material to its business, and the use thereof by the Borrowers Borrower and their its Subsidiaries does not infringe in any material respect on the rights of any other Person. (c) As of the Closing Date, neither all Real Estate of the Borrowers nor any of their Borrower and its Material Subsidiaries owns any Real Estateis listed on Schedule 5.11.

Ownership of Property; Insurance. (a) Each of the Borrowers Borrower and their its Subsidiaries has good title to, or valid leasehold interests in, all of its real and personal property material to the operation of its business, including all such properties reflected in the most recent audited consolidated balance sheet of the Borrowers Borrower referred to in Section 4.4 5.04 or purported to have been acquired by any the Borrower or any of their its Subsidiaries after said date (except as sold or otherwise disposed of in the ordinary course of business or as permitted under this Agreement or any other Loan Document), in each case free and clear of Liens (other than Permitted Liens). All leases that individually or in the aggregate are material to the business or operations of the Borrowers Borrower and their its Subsidiaries are valid and subsisting and are in full force in all material respects. (b) Each of the Borrowers Borrower and their its Subsidiaries owns, or is licensed or otherwise has the right to use, all patents, trademarks, service marks, trade names, copyrights and other intellectual property material to its business, and the use thereof by the Borrowers Borrower and their its Subsidiaries does not infringe in any material respect on the rights of any other Person. (c) As of the Closing Date, neither all Real Estate of the Borrowers nor any of their Borrower and its Subsidiaries owns any Real Estateis listed on Schedule 5.11.