Common use of Properties; Securities Clause in Contracts

Properties; Securities. (i) Except as reserved against in the IJL's Financial Statements dated before the date hereof and except as Previously Disclosed, IJL and its Subsidiaries have good and marketable title, free and clear of all Liens (other than Liens for current taxes not yet delinquent) to all of the Material properties and assets, tangible or intangible, reflected in such financial statements as being owned by IJL and its Subsidiaries as of the dates thereof. To the best of the IJL's knowledge, all buildings and all the Material fixtures, equipment, and other property and assets held under leases or subleases by any of IJL and its Subsidiaries are held under valid leases or subleases enforceable in accordance with their respective terms (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and to general equity principles). IJL has Previously Disclosed, as of the date hereof, a list of all real estate owned by it or a IJL Subsidiary. Each of IJL and its Subsidiaries has good and marketable title to all securities held by it (except securities sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Lien, except to the extent such securities are pledged in the ordinary course of business consistent with prudent and past business practices to secure obligations of each of IJL or any of its Subsidiaries. Such securities are valued on the books of IJL or its Subsidiaries in accordance with generally accepted accounting practices. (ii) IJL has Previously Disclosed, as of the date hereof, a list of all equity securities it or a IJL Subsidiary holds involving, in the aggregate, ownership or control of 5% or more of any class of the issuer's voting securities or 25% or more of the issuer's equity (treating subordinated debt as equity).

Properties; Securities. (i1) Except as reserved against in the IJLCompany's Financial Statements dated before the date hereof and except as Previously Disclosedhereof, IJL the Company and its Subsidiaries have good and marketable title, free and clear of all Liens (other than Liens for current taxes not yet delinquent) to all of the Material properties and assets, tangible or intangible, reflected in such financial statements as being owned by IJL the Company and its Subsidiaries as of the dates thereof. To the best of the IJLCompany's knowledge, all buildings and all the Material fixtures, equipment, and other property and assets held under leases or subleases by any of IJL the Company and its Subsidiaries are held under valid leases or subleases enforceable in accordance with their respective terms (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and to general equity principles). IJL The Company has Previously Disclosed, as of the date hereof, a list of all real estate owned by it or a IJL Company Subsidiary. Each of IJL the Company and its Subsidiaries has good and marketable title to all securities held by it (except securities sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Lien, except to the extent such securities are pledged in the ordinary course of business consistent with prudent and past business practices to secure obligations of each of IJL the Company or any of its Subsidiaries. Such securities are valued on the books of IJL the Company or its Subsidiaries in accordance with generally accepted accounting practices. (ii2) IJL The Company has Previously Disclosed, as of the date hereof, a list of all equity securities it or a IJL Company Subsidiary holds for its own account involving, in the aggregate, ownership or control of 5% or more of any class of the issuer's voting securities or 25% or more of the issuer's equity (treating subordinated debt as equity)) and, as of the Effective Time, no additional persons will need to be included on such a list. The Company has Previously Disclosed a list, as of the date hereof, of all partnerships, limited liability companies, joint ventures or similar entities, in which it is a general partner, manager, managing member or holds some other similar position or owns or controls any interest, directly or indirectly, of 5% or more and the nature and amount of each such interest and, as of the Effective Time, no additional persons will need to be included on such a list.

Properties; Securities. (ia) Except as reserved against may be reflected in the IJL's Financial Statements dated before Berthel Interix Xxxxnce Sheet, Berthel and the date hereof and except as Previously Disclosed, IJL and its Subsidiaries Xxxxxxl Subsidxxxxxx have good and marketable title, free and clear of all Liens (other than Liens for current taxes not yet delinquent) to all of the Material properties and assets, tangible or intangible, reflected in such financial statements the Berthel Interix Xxxxnce Sheet as being owned by IJL and its Subsidiaries Berthel anx xxx Berthel Subsidxxxxxx as of the dates date thereof. To the best of the IJLBerthel's knowledgexxxxxxxxx, all buildings and all the Material material fixtures, equipment, equipment and other property and assets held under leases or subleases sub-leases by any of IJL and its Subsidiaries either Berthel or xxx Xerthel Subsixxxxx are held under valid leases or subleases sub-leases, enforceable in accordance with their respective terms (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium moratorium, or other laws affecting creditors' rights generally and to by general equity equitable principles). IJL has Previously Disclosed, as Set forth in the Berthel Dixxxxxxxe Schedule is a list of any and all real estate owned or leased by Berthel or any Xxxxxxx Subsidxxxx xs of the date hereof, a list of all real estate owned by it or a IJL Subsidiary. Each of IJL and its Subsidiaries Berthel anx xxx Berthel Subsidxxxxxx has good and marketable title to all securities held by it (except for securities sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Lien, except to the extent such securities are pledged in the ordinary course of business consistent with prudent and past business practices to secure obligations of each of IJL Berthel or any of its Subsidiariesxx xxx Berthel Subsidxxxxxx. Such Said securities are valued on the books of IJL Berthel or its Subsidiaries the Xxxxxxx Subsidxxxxxx, as appropriate, in accordance with generally accepted accounting practicesU.S. GAAP. (iib) IJL has Previously DisclosedExcept as set forth in the Berthel Discloxxxx Xchedule, as of the date hereof, a list of all neither Berthel nor any Xxxxxxl Subsidxxxx xxlds any equity securities it or a IJL Subsidiary holds for its own account involving, in the aggregate, ownership or control of five percent (5% %) or more of any class of the an issuer's voting securities or twenty-five percent (25% %) or more of the issuer's equity (treating subordinated debt as equity). Except as set forth in the Berthel Disclosxxx Xxxedule, there are no partnerships, limited liability companies, joint ventures or similar entities in which Berthel or any xx xxx Berthel Subsidxxxxxx is a general partner, manager, managing member, or holds some other similar position or owns or controls any interest, directly or indirectly, of five percent (5%) or more and the nature and amount of each such interest.