Common use of PROPERTIES; ABSENCE OF ENCUMBRANCES Clause in Contracts

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

Appears in 2 contracts

Samples: Precision Auto Care Inc, Precision Auto Care Inc

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PROPERTIES; ABSENCE OF ENCUMBRANCES. The Rocky Mountain II I Disclosure Letter sets forth a complete list of all real property owned by or leased to Rocky Mountain III, and, with respect to all properties leased by Rocky Mountain III, a description of the term of such lease and the monthly rental thereunder. Rocky Mountain II I 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 I 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 I has full legal and practical access to all such real property. SECTION 10.149.14

Appears in 2 contracts

Samples: Precision Auto Care Inc, Precision Auto Care Inc

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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 IIII , 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.

Appears in 1 contract

Samples: Termination of Agreement (Precision Auto Care Inc)

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