Common use of Tangible Personal Property; Investment Assets Clause in Contracts

Tangible Personal Property; Investment Assets. (a) The Company at Closing will be in possession of and has good title to, or has valid leasehold interests in or valid rights under Contract to use, all tangible personal property used in or reasonably necessary for the conduct of its business, including all tangible personal property owned by the Company as of the date of the acquisition by the Company of its Assets and Properties other than property disposed of since such date in the ordinary course of business consistent with past practice. All such tangible personal property is free and clear of all Liens, other than Permitted Liens and Liens disclosed in Section 2.15(a) of the Disclosure Schedule, and is in good working order and condition, ordinary wear and tear excepted, and its use complies in all respects with all applicable Laws.

Tangible Personal Property; Investment Assets. (a) The Company at Closing will be is in possession of and has good title to, or has valid leasehold interests in or valid rights under Contract to use, all tangible personal property used in or reasonably necessary for the conduct of its business, including all tangible personal property owned by reflected on the Company as of 1996 Base Balance Sheet and tangible personal property acquired since the date of the acquisition by the Company of its Assets and Properties 1996 Base Balance Sheet other than property disposed of since such date in the ordinary course of business consistent with past practice. All such tangible personal property is free and clear of all Liens, other than Permitted Liens and Liens disclosed in Section 2.15(a5.15(a) of the Disclosure Schedule, and is in good working order and condition, ordinary wear and tear excepted, and its use complies in all material respects with all applicable Laws.

Tangible Personal Property; Investment Assets. (a) The Company at Closing will be Each of the Companies is in possession of and has good title to, or has valid leasehold interests in or valid rights under Contract to use, all tangible personal property used in or reasonably necessary for the conduct of its business, including all tangible personal property owned by reflected on the Company as of balance sheet included in the date of Financial Statements and tangible personal property acquired since the acquisition by the Company of its Assets and Properties Financial Statement Date other than property disposed of since such date in the ordinary course of business consistent with past practice. All such tangible personal property is free and clear of all Liens, other than Permitted Liens and Liens disclosed in Section 2.15(a2.16(a) of the Disclosure Schedule, and is in good working order and condition, ordinary wear and tear excepted, and to the knowledge of Sellers its use complies in all material respects with all applicable Laws.