Real Property; Leases of Real Property. As of the Closing, the Company or one of its Subsidiaries will have good, valid and marketable fee simple title to each piece of real property set forth on SCHEDULE 5.9 hereto as owned by the Company or one of its Subsidiaries (the "Owned Real Properties"). Except for Sign Location Leases, SCHEDULE 5.9 hereto contains a complete and correct list in all material respects of all leases, subleases, license agreements or other rights of possession or occupancy of real property to which the Company or a Subsidiary is a party (as tenant, occupier or possessor) pursuant to which the current net annual rent payable by the Company currently exceeds $25,000 (each such lease or agreement, a "Material Lease" and collectively the "Material Leases"). All of the Material Leases are in full force and effect. Complete and correct copies of each Material Lease have been furnished or made available to Acquiror. Except as disclosed on SCHEDULE 5.9 hereto, no consent is required of any landlord or other third party to any Material Lease to consummate the transactions contemplated hereby, and upon consummation of the transactions contemplated hereby, each Material Lease will continue to entitle the Company or its Subsidiaries to the use and possession of the real property specified in such Material Leases and for the purposes for which such real property is now being used by the Company or its Subsidiaries. Except as set forth in such Schedule, neither the Company nor any of its Subsidiaries is in default (or with notice or lapse of time or both will be in default) or has received written notice of default within the past 18 months (other than such notices of immaterial defaults which are no longer outstanding) under any such Material Lease, and to the best of Seller's knowledge, on the date hereof, there exists no uncured default or any event which could give rise to a default thereunder by any third party, which in either case would be reasonably likely to result in a Material Adverse Effect. Except as disclosed on SCHEDULE 5.9, none of Seller, the Company or any of its Subsidiaries is aware of any circumstance involving a dispute, oral modification, misunderstanding, forbearance program or intention to terminate the relationship thereunder (either at present or in the future) regarding or in relation to any Material Lease or Sign Location Lease. Each Material Lease and Sign Location Lease has been entered into on terms substantially consistent with industry standards and pra...
Real Property; Leases of Real Property. The Company does not own any real property. Schedule 5.06 contains a true, complete and correct list of all leases, subleases, license agreements or other rights of possession or occupancy of real property to which the Company is a party (each, a “Lease”). All of the Leases are in full force and effect, and the Company is not in default in any material respect beyond any applicable notice or grace period, and has not received written notice of any such default still outstanding on the date hereof under any such Lease. To the Company’s knowledge, on the date hereof, there exists no uncured material default under any Lease by any third party. True, complete and correct copies of each Lease have been made available to the Buyer. Except as described on Schedule 5.06, no consent is required of any landlord or any other party to any Lease to consummate the transactions contemplated hereby, and upon consummation of the transactions contemplated hereby, each Lease will continue to entitle the Company to the use and possession of the real property specified in such Leases for the purposes for which such real property is now being used by the Company. The Company has not agreed, nor is it otherwise committed, to lease any real property except for the real property described in the Leases.
Real Property; Leases of Real Property. (a) Neither Company owns any real property.
Real Property; Leases of Real Property. The Disclosure Schedule contains a list and brief description of the location and approximate size of each tract of real property owned or leased by ARS (the "PROPERTY LIST"). With respect to the real property disclosed on the Property List, except as to mortgages, liens and encumbrances reflected in the Audited Balance Sheet, or existing utility easements which do not materially interfere with the present use of the real properties or materially affect their value, all of the real properties which are reflected as being owned by ARS in the Audited Balance Sheet are owned in fee simple, free and clear of all claims, liens, charges and encumbrances of any kind. Each of ARS's leases of real property is a valid and binding lease obligation, in full force and effect, enforceable in accordance with its terms and does not require the consent of any person to the transactions contemplated by this Agreement (except for consents which have been obtained in writing and delivered by Sellers to Purchaser).
Real Property; Leases of Real Property. There is no real property owned or leased by Seller.
Real Property; Leases of Real Property. (a) None of the Jet Center Entities owns or has ever owned fee simple title to any real property.
Real Property; Leases of Real Property. (a) The Seller does not own any interest in real property.
Real Property; Leases of Real Property. (a) Neither the Company nor its Subsidiaries owns fee simple title to any real property.
Real Property; Leases of Real Property. (a) The Company owns no real property.
