Common use of Title and Operation of Properties Clause in Contracts

Title and Operation of Properties. (a) Part 2.8 of the Company Disclosure Letter lists all real property owned by Company or any of its subsidiaries and all real property leases to which Company or any of its subsidiaries is a party and each amendment thereto that is in effect as of the date of this Agreement that have a book value in excess of $100,000 or provide for annual payments in excess of $100,000, respectively. All such current leases are in full force and effect, are valid and effective in accordance with their respective terms, and there is not, under any of such leases, any existing default or event of default (or event which with notice or lapse of time, or both, would constitute a default) that would give rise to a material claim against Company or any of its subsidiaries that would have a Material Adverse Effect on Company.

Title and Operation of Properties. (a) Part 2.8 3.8 of the Company TEAM Disclosure Letter lists all real property owned by Company TEAM or any of its subsidiaries and all real property leases to which Company TEAM or any of its subsidiaries is a party and each amendment thereto that is in effect as of the date of this Agreement that have a book value in excess of $100,000 50,000, or provide for annual payments in excess of $100,00050,000, respectively. All such current leases are in full force and effect, are valid and effective in accordance with their respective terms, and there is not, under any of such leases, any existing default or event of default (or event which with notice or lapse of time, or both, would constitute a default) that would give rise to a material claim against Company TEAM or any of its subsidiaries that would is reasonably likely to have a Material Adverse Effect on CompanyTEAM.