Common use of Tangible Properties Clause in Contracts

Tangible Properties. Each of the Company and its ------------------- Subsidiaries has good and marketable title to, or leases with respect to, all of its owned or leased tangible personal property which is necessary for the conduct of its business in the ordinary course consistent with past practices and is reflected in the Balance Sheet, except as indicated in the notes thereto, and no such personal property is subject to any Lien (except for Liens reflected in the Balance Sheet and Permitted Liens). Such tangible personal property has been maintained by the Company or its Subsidiary, as the case may be, in a manner consistent with past practices.

Tangible Properties. Each of the Company and its Subsidiaries ---- ------------------- Subsidiaries has good and marketable title to, or leases with respect to, all of its owned or leased tangible personal property which is necessary for the conduct of its business in the ordinary course consistent with past practices and is reflected in the Balance Sheet, except as indicated in the notes thereto, and no such personal property is subject to any Lien (except for Liens reflected in the Balance Sheet and Permitted Liens). Such tangible personal property has been maintained by the Company or its Subsidiary, as the case may be, in a manner consistent with past practices.