Common use of Personal Property; Information Systems Clause in Contracts

Personal Property; Information Systems. (a) Except as set forth in Section 3.12 of the Disclosure Schedule, the Company and the Company Subsidiaries collectively own, have a valid leasehold interest in or have legal right to use all of the material tangible personal property necessary to carry on their business and operations, free and clear of all Encumbrances, except Permitted Encumbrances and Encumbrances reflected on the Company Financial Statements. (b) To the Company's Knowledge as of the date hereof, the operating and applications computer programs and data bases ("Software") which the Company and the Company Subsidiaries currently use or have available for use are adequate and sufficient in all material respects to service their existing customers on the date hereof through the end of the current term of the contracts with such customers. All material Software is owned outright by the Company or the applicable Company Subsidiary or, if not so owned, the Company or such Company Subsidiary has the right to use the same pursuant to valid licenses thereof. To the Company's Knowledge as of the date hereof, none of the material Software owned by the Company or any Company Subsidiaries and none of the Software licensed by the Company or any Company Subsidiary infringes upon or violates any patent, copyright, trade secret or other proprietary right of any other Person. (c) To the Company's Knowledge as of the date hereof, the central processing units, monitors, printers and other computer-related hardware ("Hardware") which the Company and any Company Subsidiaries currently use or have available for use are adequate and sufficient to service their existing customers on the date hereof through the end of the current term of the contracts with such customers. All such Hardware is owned outright by the Company or the applicable Company Subsidiary or if not so owned, the Company or such Company Subsidiary has the right to use the same pursuant to valid licenses therefor, except as would not materially impair the ability of the Company and the Company Subsidiaries, taken as a whole, to conduct their business and operations, as presently conducted SECTION 3.13. REAL PROPERTY (a) Neither the Company nor any Company Subsidiary owns any real property. 15

Personal Property; Information Systems. (a) Except as set forth in Section 3.12 of the Disclosure Schedule, the Company and the Company Subsidiaries The Group Entities collectively own, have a valid leasehold interest in in, or have legal right to use use, all of the material tangible personal property necessary to carry on their the business and operationsof the Group Entities as presently conducted, free and clear of all EncumbrancesEncumbrances except for (i) Encumbrances for inchoate mechanics' and materialmens' liens for construction in progress and workmens', except Permitted repairmens', warehousemens' and carriers' liens arising in the ordinary course of business, (ii) Encumbrances for Taxes not yet payable, (iii) Encumbrances arising out of, under, or in connection with, this Agreement and (iv) Encumbrances reflected on set forth in Section 4.17 of the Company Financial StatementsDisclosure Schedule arising in connection with the Company's revolving credit agreement (collectively, "Permitted Encumbrances"). (b) To the Company's Knowledge as of the date hereof, the The operating and applications computer programs and data bases ("Software") which the Company and the Company Subsidiaries Group Entities currently use or have available for use are adequate and sufficient in all material respects to service their existing customers on the date hereof through the end of the current term of the contracts with such customers. All material such Software is owned outright by the Company or the applicable Company Subsidiary a Group Entity or, if not so ownedowned by a Group Entity, the Company or such Company Subsidiary a Group Entity has the right to use the same pursuant to valid licenses thereoftherefor. To None of the Software owned by a Group Entity and, to the Company's Knowledge as of the date hereofknowledge, none of the material Software owned by the Company or any Company Subsidiaries and none of the Software licensed by the Company or any Company Subsidiary a Group Entity, infringes upon or violates any patent, copyright, trade secret or other proprietary property right of any other Person. (c) To the Company's Knowledge as of the date hereof, the The central processing units, monitors, printers and other computer-related hardware ("Hardware") which the Company and any Company Subsidiaries Group Entities currently use or have available for use are adequate and sufficient to service their existing customers on the date hereof through the end of the current term of the contracts with such customers. All such Hardware is owned outright by the Company or the applicable Company Subsidiary or a Group Entity or, if not so ownedowned by a Group Entity, the Company or such Company Subsidiary a Group Entity has the right to use the same pursuant to valid licenses therefor, except as would not materially impair the ability of the Company and the Company Subsidiaries, taken as a whole, to conduct their business and operations, as presently conducted SECTION 3.13. REAL PROPERTY (a) Neither the Company nor any Company Subsidiary owns any real property. 15.

Personal Property; Information Systems. (a) Except as set forth in Section 3.12 of the Disclosure Schedule, the Company and the Company Subsidiaries collectively own, have a valid leasehold interest in or have legal right to use all of the material tangible personal property necessary to carry on their business and operations, free and clear of all Encumbrances, except Permitted Encumbrances and Encumbrances reflected on the Company Financial Statements. (b) To the Company's Knowledge as of the date hereof, the operating and applications computer programs and data bases ("Software") which the Company and the Company Subsidiaries currently use or have available for use are adequate and sufficient in all material respects to service their existing customers on the date hereof through the end of the current term of the contracts with such customers. All material Software is owned outright by the Company or the applicable Company Subsidiary or, if not so owned, the Company or such Company Subsidiary has the right to use the same pursuant to valid licenses thereof. To the Company's Knowledge as of the date hereof, none of the material Software owned by the Company or any Company Subsidiaries and none of the Software licensed by the Company or any Company Subsidiary infringes upon or violates any patent, copyright, trade secret or other proprietary right of any other Person. (c) To the Company's Knowledge as of the date hereof, the central processing units, monitors, printers and other computer-related hardware ("Hardware") which the Company and any Company Subsidiaries currently use or have available for use are adequate and sufficient to service their existing customers on the date hereof through the end of the current term of the contracts with such customers. All such Hardware is owned outright by the Company or the applicable Company Subsidiary or if not so owned, the Company or such Company Subsidiary has the right to use the same pursuant to valid licenses therefor, except as would not materially impair the ability of the Company and the Company Subsidiaries, taken as a whole, to conduct their business and operations, as presently conducted SECTION 3.13. REAL PROPERTY (a) Neither the Company nor any Company Subsidiary owns any real property. 15conducted