PROPERTIES; ABSENCE OF ENCUMBRANCES. The Rocky Mountain II Disclosure Letter sets forth a complete list of all real property owned by or leased to Rocky Mountain II, and, with respect to all properties leased by Rocky Mountain II, a description of the term of such lease and the monthly rental thereunder. Rocky Mountain II is not in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to Rocky Mountain II is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, Rocky Mountain II has full legal and practical access to all such real property. SECTION 10.14
PROPERTIES; ABSENCE OF ENCUMBRANCES. The Lube Ventures Disclosure Letter sets forth a complete list of all real property owned by or leased to Lube Ventures, and, with respect to all properties leased by Lube Venture, a description of the term of such lease and the monthly rental thereunder. Lube Ventures is not in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to Lube Venture is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, Lube Ventures has full legal and practical access to all such real property. SECTION 7.14
PROPERTIES; ABSENCE OF ENCUMBRANCES. The Miracle Industries Disclosure Letter sets forth a complete list of all real property owned by or leased to Miracle Industries, and, with respect to all properties leased by Miracle Industries, a description of the term of such lease and the monthly rental thereunder. Neither Miracle Industries or Hydro-Spray or Indy Ventures nor (any of its other Subsidiaries) is in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to Miracle Industries or Hydro-Spray or Indy Ventures is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, Miracle Industries or Hydro-Spray or Indy Ventures has full legal and practical access to all such real property. SECTION 8.14
PROPERTIES; ABSENCE OF ENCUMBRANCES. The Prema Properties Disclosure Letter sets forth a complete list of all real property owned by or leased to Prema Properties, and, with respect to all properties leased by Prema Properties, a description of the term of such lease and the monthly rental thereunder. Prema Properties is not in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to Prema Properties is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, Prema Properties has full legal and practical access to all such real property. A-71
PROPERTIES; ABSENCE OF ENCUMBRANCES. The Xxxxxxx Car Wash Disclosure Letter sets forth a complete list of all real property owned by or leased to Xxxxxxx Car Wash, and, with respect to all properties leased by Xxxxxxx Car Wash, a description of the term of such lease and the monthly rental thereunder. Xxxxxxx Car Wash is not in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to Xxxxxxx Car Wash is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, Xxxxxxx Car Wash has full legal and practical access to all such real property. SECTION 12.13
PROPERTIES; ABSENCE OF ENCUMBRANCES. The Miracle Partners Disclosure Letter sets forth a complete list of all real property owned by or leased to Miracle Partners, and, with respect to all properties leased by Miracle Partners, a description of the term of such lease and the monthly rental thereunder. Miracle Partners is not in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to Miracle Partners is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, Miracle Partners has full legal and practical access to all such real property. SECTION 14.14
PROPERTIES; ABSENCE OF ENCUMBRANCES. The WE JAC Disclosure Letter sets forth a complete list of all real property owned by or leased to WE JAC or any of its Subsidiaries, and, with respect to all properties leased by WE JAC, a description of the term of such lease and the monthly rental thereunder. Neither WE JAC nor any of its Subsidiaries is in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to WE JAC or any of its Subsidiaries is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, WE JAC or one or more of its Subsidiaries has full legal and practical access to all such real property. SECTION 6.13
PROPERTIES; ABSENCE OF ENCUMBRANCES. The ITS PLC Disclosure Letter sets forth a complete list of all real property owned by or leased to ITS PLC or any of the ITS Subsidiaries, and, with respect to all properties leased by ITS PLC or any of the ITS Subsidiaries, a description of the term of such lease and the monthly rental thereunder. None of the ITS Subsidiaries is in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to any of the ITS Subsidiaries is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, one or more of the ITS Subsidiaries has full legal and practical access to all such real property. The ITS Subsidiaries own (with good and marketable title in the case of real estate) all the property and assets (whether real, personal, tangible or intangible) that they purport to own, including without limitation, all of the properties and assets reflected in the ITS Balance Sheets and all properties and assets purchased or otherwise acquired by the ITS Subsidiaries since July 31,
PROPERTIES; ABSENCE OF ENCUMBRANCES. The Aero Disclosure Letter sets forth a complete list of all real property owned by or leased to Aero, and, with respect to all properties leased by Aero, a description of the term of such lease and the monthly rental thereunder. Aero is not in default (and will not be in default with the passage of time or the receipt of notice or both) and has not received notice of default, under any lease of real property. All real property leased to Aero is available for immediate use in the operation of its business and for the purpose for which such property currently is being utilized. Subject in the case of leased property to the terms and conditions of the respective leases, Aero has full legal and practical access to all such real property. Aero owns (with good and marketable title in the case of real estate) all the property and assets (whether real, personal, tangible or intangible) that they purport to own, including without limitation, all of the properties and assets reflected in the Aero Balance Sheet and all properties and assets purchased or otherwise acquired by Aero since July 31, 1998. Aero owns no properties or assets other than those set forth in the Aero Disclosure Letter. All material properties and assets reflected in the Aero Balance Sheet are free and clear of all Encumbrances, and are not, in the case of real property, subject to any rights of way, servitudes, use restrictions or limitations of any nature except (a) mortgage or security interests shown on the Aero Balance Sheet as securing specified liabilities or obligations, with respect to which no default (or event of that, with notice or lapse of time or both would constitute a default) exists, (b) liens for current taxes not yet due, (c) minor imperfections of title, if any, none of which is substantial in amount, materially detracts from the value or materially impairs the use of the property or impairs the operations of Aero and (d) zoning and other land use restrictions of general application that do not impair the present or anticipated use of the property.
PROPERTIES; ABSENCE OF ENCUMBRANCES. (a) Schedule 4.12(a) of Seller’s Disclosure Letter contains a list, as of the date hereof, of all real property owned in whole or in part by the Company or any of its Subsidiaries (collectively, the “Owned Real Property”). The Company or its applicable Subsidiary has good, valid and insurable title in fee simple to the Owned Real Property, free and clear of all Encumbrances, other than Permitted Encumbrances and Encumbrances that will be released at or prior to the Closing. To the extent available to the Company or its Subsidiaries, the Company has made available to Buyer all title insurance policies, property condition reports, appraisal and valuation reports, and surveys for each Owned Real Property. There are no outstanding options, rights of first offer, rights of reverter or rights of first refusal to purchase Owned Real Property or any portion thereof or interest therein. None of the Company or any of its Subsidiaries is a party to any agreement or option to purchase any real property or interest therein unless otherwise disclosed on Schedule 4.12(a) of Seller’s Disclosure Letter.
