Common use of Title to Assets; Liens Clause in Contracts

Title to Assets; Liens. Each Credit Party has good and marketable title to all of the material Property purported to be owned by it, free and clear of all Liens, other than Permitted Liens, and holds such title and all of such Property in its own name and not in the name of any nominee or other Person. Each Credit Party is lawfully possessed of a valid and subsisting leasehold estate in and to all Property that it purports to lease, free and clear of all Liens, other than Permitted Liens, and holds such leaseholds in its own name and not in the name of any nominee or other Person (it being understood that Avantel Infraestructura subleases one floor of its office at Pxxxx xx xx Xxxxxxx Xx. 000). No Credit Party has created or is contractually bound to create any Lien on or with respect to any of its Properties, except for Permitted Liens, and no Credit Party is restricted by Applicable Law or its Organizational Documents from creating Liens on any of its Properties.

Title to Assets; Liens. Each Credit Party has good and marketable title to all of the material Property purported to be owned by it, free and clear of all Liens, other than Permitted Liens, and holds such title and all of such Property in its own name and not in the name of any nominee or other Person. Each Credit Party is lawfully possessed of a valid and subsisting leasehold estate in and to all Property that it purports to lease, free and clear of all Liens, other than Permitted Liens, and holds such leaseholds in its own name and not in the name of any nominee or other Person (it being understood that Avantel Infraestructura subleases one floor of its office at Pxxxx Xxxxx xx xx Xxxxxxx Xx. 000). No Credit Party has created or is contractually bound to create any Lien on or with respect to any of its Properties, except for Permitted Liens, and no Credit Party is restricted by Applicable Law or its Organizational Documents from creating Liens on any of its Properties.