Title to Properties; Leasehold Interests. Except as set forth in Schedule 7.9: (a) The Company or its Subsidiaries has good and marketable title to the assets and properties reflected on the Latest Balance Sheet or acquired since the date of the Latest Balance Sheet (other than properties and assets disposed of in the ordinary course of business consistent with past practice since the date of the Latest Balance Sheet), and all such properties and assets of the Company or its Subsidiaries are free and clear of all Liens (other than Permitted Liens). (b) Each lease under which the Company or any of its Subsidiaries is a lessee of any property, real or personal, is a valid and subsisting agreement with respect to the Company or its Subsidiaries, as the case may be, and, to the Knowledge of the Company, with respect to the other parties thereto, without any material default of the Company or any of its Subsidiaries thereunder and, to the Knowledge of the Company, without any material default thereunder of any other party thereto. (c) The Company or its Subsidiaries owns, or has a valid leasehold interest in, all the assets or properties used in, or necessary for, the conduct of its respective business as presently conducted.
Appears in 2 contracts
Samples: Series a Preferred Stock Purchase Agreement (Xstream Systems Inc), Series a Preferred Stock Purchase Agreement (Xstream Systems Inc)
Title to Properties; Leasehold Interests. Except as set forth in Schedule 7.97.8:
(a) The Company or its Subsidiaries has good and marketable title to the assets and properties reflected on the Latest Balance Sheet or acquired since the date of the Latest Balance Sheet (other than properties and assets disposed of in the ordinary course of business consistent with past practice since the date of the Latest Balance Sheet), and all such properties and assets of the Company or its Subsidiaries are free and clear of all Liens (other than Permitted Liens).
(b) Each lease under which the Company or any of its Subsidiaries is a lessee of any property, real or personal, is a valid and subsisting agreement with respect to the Company or its Subsidiaries, as the case may be, and, to the Knowledge of the Company, with respect to the other parties thereto, without any material default of the Company or any of its Subsidiaries thereunder and, to the Knowledge of the Company, without any material default thereunder of any other party thereto.
(c) The Company or its Subsidiaries owns, or has a valid leasehold interest in, all the assets or properties used in, or necessary for, the conduct of its respective business as presently conducted.
Appears in 2 contracts
Samples: Series D Preferred Stock Purchase Agreement (Xstream Systems Inc), Series D Preferred Stock Purchase Agreement (Xstream Systems Inc)
