Common use of Title to Properties and Condition of Assets Clause in Contracts

Title to Properties and Condition of Assets. Except as disclosed in the Disclosure Letter, each of Caza and each Caza Subsidiary has sufficient title (whether in fee simple or equivalent or by means of an exploration, retention, reconnaissance, development or mining permit, right or license), free and clear of any title defect or Lien, to its mineral projects with estimated, measured, indicated or inferred resources, such properties being described in the Disclosure Letter, except for such defects in title or Liens that, individually or in the aggregate, do not have a Material Adverse Effect on Caza or the Caza Subsidiaries that has such title. All tangible personal property of Caza and the Caza Subsidiaries is in generally satisfactory repair and is operational and usable in the manner in which it is currently being utilized, subject to normal wear and tear and technical obsolescence, repair or replacement, except for such property whose failure to be in such condition does not have a Material Adverse Effect on Caza or any of the Caza Subsidiaries. All required permits or registrations necessary to perfect title in and to such assets have been carried out in compliance with applicable law and are in full force and effect, except for any non-compliance that, individually or in the aggregate, does not have a Material Adverse Effect on Caza or any of the Caza Subsidiaries.