Practice Assets Sample Clauses
The "Practice Assets" clause defines the specific assets that are considered part of a professional practice, such as a medical or legal firm, for the purposes of a contract or agreement. This typically includes tangible items like equipment, office furniture, and supplies, as well as intangible assets such as client lists, intellectual property, and goodwill. By clearly identifying what constitutes practice assets, the clause ensures both parties understand what is included in a transaction or transfer, thereby preventing disputes and ensuring a smooth transition of ownership or management.
Practice Assets. Seller has good and marketable title to the Practice Assets which are owned exclusively by Seller, free and clear of all liens, mortgages and encumbrances of any kind or nature, except as set forth on Exhibit 1.01(a).
Practice Assets. Manager will provide Practice with the use of such Practice Assets as are determined by Manager from time to time to be necessary for the operation of each Practice Location. Manager shall maintain or cause to be maintained all equipment in good condition and repair, reasonable wear and tear accepted, and shall refurbish or replace the same as it becomes worn out or obsolete in a manner consistent with policies on medical technology and the annual Practice Budgets. All Practice Assets shall be owned or leased by Manager, and Practice shall have no title in the Practice Assets furnished by Manager.
Practice Assets. 1.1.1 Excluded Assets
Practice Assets. Attached hereto as Schedule 3.13 is a true and complete list of all of the non-cash assets, including leases to which the Corporation is a party, of the Corporation at Closing Date (the "Practice Assets"). The Corporation has and at the Closing will have good title, unencumbered by any Lien (except the UCC-1 Financing Statement in favor of Storz Instrument Co. and the Lease and Service Agreement between Seller and Berg▇▇ ▇▇▇pital dated April 13, 1995, the outstanding amount of which, as of the Closing Date, shall be paid off by Seller within two (2) days of the Closing), to all of the Practice Assets. The Practice Assets will be updated at Closing, and supplies and inventories at Closing will be at levels greater than or equal to the Closing Date levels.
Practice Assets. Attached hereto as Schedule 3.12 is a true and complete list of all of the non-cash assets, including leases to which Corporation is a party, of Corporation at Closing Date (the "Practice Assets"). Corporation has and at the Closing will have good title, unencumbered by any Lien, to all of the Practice Assets. The Practice Assets will be updated at Closing, and supplies and inventories at Closing will be at levels greater than or equal to the Closing Date levels.