Title to Assets, Properties and Rights. The Company has good and marketable title (or a valid leasehold interest or license) to all of the assets (whether real, personal or mixed) reflected as being owned (or leased or licensed) by the Company on the balance sheet included in the Interim Financial Statements (except for those assets subsequently disposed of in the ordinary course of business for fair value), free and clear of all Liens, except for (a) those Liens set forth on Schedule 3.14; (b) Liens for current Taxes, assessments and other governmental charges not yet due and payable and for which adequate reserves have been established on the books of the Company; (c) easements, covenants, conditions and restrictions (whether or not of record) as to which no material violation or encroachment exists or, if such violation or encroachment exists, as to which the cure of such violation or encroachment would not materially interfere with the conduct of the Company’s business as presently conducted; (d) any zoning or other governmentally established restrictions or encumbrances; (e) worker’s or unemployment compensation Liens arising in the ordinary course of business; (f) mechanic’s, materialman’s, supplier’s, vendor’s or similar Liens arising in the ordinary course of business securing amounts which are not delinquent; and (g) those Liens that do not, individually or cumulatively, have or could reasonably be expected to have a Material Adverse Effect on the Company.
Appears in 4 contracts
Samples: Securities Purchase Agreement (4Licensing Corp), Securities Purchase Agreement (4Licensing Corp), Securities Purchase Agreement (4Licensing Corp)
Title to Assets, Properties and Rights. The Company (or a Subsidiary of the Company) has good and marketable title (or a valid leasehold interest or licenseinterest) to all of the assets Assets and Properties (whether real, personal or mixed) reflected necessary for the conduct of the business of Company and its Subsidiaries substantially as being owned (or leased or licensed) by the Company on the balance sheet included in the Interim Financial Statements (except for those assets subsequently disposed of in the ordinary course of business for fair value)now conducted, free and clear of all LiensEncumbrances, except for (ai) those Liens set forth on Schedule 3.14; (b) Liens liens for current Taxestaxes, assessments and other governmental charges not yet due and payable or that are being contested in good faith by appropriate proceedings promptly instituted and diligently concluded for which adequate reserves have been established on the books of the Companyas required by GAAP or SAP; (cii) easements, covenants, conditions and restrictions (whether or not of record) as to which no material violation or encroachment exists or, if such violation or encroachment exists, as to which the cure of such violation or encroachment would not materially interfere with the conduct of the Company’s business as presently conducted's business; (diii) any zoning or other governmentally established restrictions or encumbrances; (eiv) worker’s workers or unemployment compensation Liens liens arising in the ordinary course of business; (fv) carriers', landlords', mechanic’s's, materialman’s's, supplier’s's, vendor’s 's or similar Liens liens arising in the ordinary course of business securing amounts which are not delinquent, which remain payable without penalty or which are being contested in good faith and by appropriate proceedings, (vi) purchase money liens on any office equipment hereafter acquired or the assumption of any lien on such office equipment; and or (gvii) those Liens that do notEncumbrances disclosed on Schedule 3.12 or any minor imperfection of title or Encumbrances which, individually or cumulativelyin the aggregate with other Encumbrances, have or do not and could not reasonably be expected to have a Material Adverse Effect on materially impair the use or value of the Assets and Properties of the Company and its Subsidiaries. Such Assets and Properties are in such operating condition and repair as is suitable for the uses for which they are used in the Company's business, are not subject to any condition which materially interferes with the use thereof by the Company or a Subsidiary of Company, as the case may be, and constitute all assets, properties, interests in properties and rights necessary to permit the Company and its Subsidiaries to carry on their business after the Closing substantially as conducted by the Company and its Subsidiaries prior thereto.
Appears in 3 contracts
Samples: Share Purchase Agreement (Pxre Group LTD), Share Purchase Agreement (Pxre Group LTD), Share Purchase Agreement (Pxre Group LTD)
Title to Assets, Properties and Rights. The Company has good and marketable title (or a valid leasehold interest or license) to all of the assets (whether real, personal or mixed) reflected as being owned (or leased or licensed) by the Company on the balance sheet included in the Interim Financial Statements (except for those assets subsequently disposed of in the ordinary course of business for fair value), free and clear of all Liens, except for (a) those Liens set forth on Schedule 3.14; (b) Liens for current Taxes, assessments and other governmental charges not yet due and payable and for which adequate reserves have been established on the books of the Company; (c) easements, covenants, conditions and restrictions (whether or not of record) as to which no material violation or encroachment exists or, if such violation or encroachment exists, as to which the cure of such violation or encroachment would not materially interfere with the conduct of the Company’s business as presently conducted; (d) any zoning or other governmentally established restrictions or encumbrances; (e) worker’s or unemployment compensation Liens arising in the ordinary course of business; (f) mechanic’s, materialman’s, supplier’s, vendor’s or similar Liens arising in the ordinary course of business securing amounts which are not delinquent; and (g) those Liens that do not, individually or cumulatively, have or could reasonably be expected to have a Material Adverse Effect on the Company.. Table of Contents
Appears in 2 contracts
Samples: Strategic Alliance Agreement (Athersys, Inc / New), Strategic Alliance Agreement (Athersys, Inc / New)
Title to Assets, Properties and Rights. The Company has good and marketable title (or a valid leasehold interest or license) to all of the assets (whether real, personal or mixed) reflected as being owned (or leased or licensed) by the Company on the balance sheet included in the Interim Unaudited Financial Statements (except for those assets subsequently disposed of in the ordinary course of business for fair valuebusiness), free and clear of all Liensliens, except for (a) those Liens set forth on Schedule 3.14; (b) Liens liens for current Taxestaxes, assessments and other governmental charges not yet due and payable and for which adequate reserves have been established on the books of the Company; (cb) easements, covenants, conditions and restrictions (whether or not of record) as to which no material violation or encroachment exists or, if such violation or encroachment exists, as to which the cure of such violation or encroachment would not materially interfere with the conduct of the Company’s business as presently conducted; (dc) any zoning or other governmentally established restrictions or encumbrances; (ed) worker’s or unemployment compensation Liens liens arising in the ordinary course of business; (fe) mechanic’s, materialman’s, supplier’s, vendor’s or similar Liens liens arising in the ordinary course of business securing amounts which that are not delinquent; and (gf) those Liens liens that do not, individually or cumulatively, have or could reasonably be expected to have a Material Adverse Effect on the Company; and (g) liens set forth on Schedule E hereto.
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