Personal and Property. All assets owned or controlled by the Selling Shareholder in connection with or related to the operation of Real Estate Promotions, a sole proprietorship operated by the Selling Shareholder (the “Sole Proprietorship”) have been transferred to Real Estate Promotional Services, Inc. The Selling Shareholder on the request of Catalyst, shall at any time following the Closing Date and without the payment of additional consideration execute any and all documents required to transfer any assets previously owned by the Selling Shareholder in connection with the operations of the Sole Proprietorship. The Company possesses, and has good and marketable title of all property necessary for the continued operation of the business of Company as presently conducted and as represented to Catalyst. All such property is used in the business of Company. All such property is in reasonably good operating condition (normal wear and tear excepted), and is reasonably fit for the purposes for which such property is presently used. All material equipment, furniture, fixtures and other tangible personal property and assets owned or leased by Company is owned by Company free and clear of all liens, security interests, charges, encumbrances, and other adverse claims, except as set forth herein: There are no outstanding agreements or options to acquire or purchase the Company project, or any interest in or any portion thereof and no person, firm or corporation has any proprietary or possessory or royalty interest in Company other than Company All assets are owned free and clear of all Liens, defects in title and third party interests other.
Appears in 5 contracts
Samples: Purchase and Share Exchange Agreement (Catalyst Group Holdings Corp.), Purchase and Share Exchange Agreement (Catalyst Group Holdings Corp.), Purchase and Share Exchange Agreement (Catalyst Group Holdings Corp.)
