Common use of Title to Property; Leases; Liens; Subordination Clause in Contracts

Title to Property; Leases; Liens; Subordination. Each of the Borrower and the Subsidiaries has (a) good and marketable title to its real properties and (b) good and sufficient title to, or valid, subsisting and enforceable leasehold interest in, its other material properties, including all real properties, other properties and assets, referred to as owned by the Borrower and its Subsidiaries in the most recent financial statement referred to in Section 4.5 (other than property disposed of since the date of such financial statements in the ordinary course of business). None of such properties owned by the Borrower or any Subsidiary is subject to a Lien, except as allowed under Section 6.

Appears in 2 contracts

Samples: Credit Agreement (Norstan Inc), Credit Agreement (Norstan Inc)

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Title to Property; Leases; Liens; Subordination. Each of the Borrower and the Subsidiaries has (a) good and marketable title to its real properties and (b) good and sufficient title to, or valid, subsisting and enforceable leasehold interest in, its other material properties, including all real properties, other properties and assets, referred to as owned by the Borrower and its Subsidiaries in the most recent financial statement referred to in Section 4.5 (other than property disposed of since the date of such financial statements in the ordinary course of business). None of such properties owned by the Borrower or any Subsidiary is subject to a Lien, except as allowed under Section 6.

Appears in 2 contracts

Samples: Credit Agreement (RTW Inc /Mn/), Credit Agreement (Graco Inc)

Title to Property; Leases; Liens; Subordination. Each ----------------------------------------------- of the Borrower Holdings and the Subsidiaries Borrowers has (a) good and marketable insurable title to its real properties and (b) good and sufficient title to, or valid, subsisting and enforceable leasehold interest in, its other material properties, including all material real properties, other properties and assets, referred to as owned by Holdings and the Borrower and its Subsidiaries Borrowers in the most recent financial statement statements referred to in Section 4.5 (other than property disposed of since the date of such financial statements in the ordinary course of business). None of such properties owned by the Borrower or any Subsidiary is subject to a Lien, except as allowed under Section 6.

Appears in 2 contracts

Samples: Credit Agreement (Panther Transport Inc), Credit Agreement (Omega Cabinets LTD)

Title to Property; Leases; Liens; Subordination. Each of the Borrower and the Subsidiaries has (a) good and marketable title to its real properties and (b) good and sufficient title to, or valid, subsisting and enforceable leasehold interest in, its other material properties, including all real properties, other properties and assets, referred to as owned by the Borrower and its Subsidiaries in the most recent financial statement referred to in Section 4.5 5.1 (other than property disposed of since the date of such financial statements in the ordinary course of business). None of such properties owned by the Borrower or any Subsidiary is subject to a Lien, except as allowed under Section 6.

Appears in 1 contract

Samples: Credit Agreement (Matrix Bancorp Inc)

Title to Property; Leases; Liens; Subordination. Each of the Borrower and the Subsidiaries each Subsidiary has (a) good and marketable title to its real properties and (b) good and sufficient title to, or valid, subsisting and enforceable leasehold interest in, its other material properties, including all real properties, other properties and assets, referred to as owned by the such Borrower and its Subsidiaries or such Subsidiary in the most recent financial statement referred to in Section 4.5 5.1 (other than property disposed of since the date of such financial statements in the ordinary course of business). None of such properties owned by the Borrower or any Subsidiary is subject to a Lien, except as allowed under Section 6.

Appears in 1 contract

Samples: Credit Agreement (Cabelas Inc)

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Title to Property; Leases; Liens; Subordination. Each of the Borrower and the Subsidiaries has (a) good and marketable title to its material real properties and (b) good and sufficient title to, or valid, subsisting and enforceable leasehold interest in, its other material properties, including all real properties, other properties and assets, referred to as owned by the Borrower and its Subsidiaries in the most recent financial statement referred to in Section 4.5 5.1 (other than property disposed of since the date of such financial statements in the ordinary course of business). None of such properties owned by the Borrower or any Subsidiary is subject to a Lien, except as allowed under Section 66.12.

Appears in 1 contract

Samples: Credit Agreement (Park National Corp /Oh/)

Title to Property; Leases; Liens; Subordination. Each of the Borrower and the Material Subsidiaries has (a) good and marketable title to its real properties and (b) good and sufficient title to, or valid, subsisting and enforceable leasehold interest in, its other material properties, including all real properties, other properties and assets, referred to as owned by the Borrower and its Subsidiaries in the most recent financial statement referred to in Section 4.5 (other than property disposed of since the date of such financial statements in the ordinary course of business). None of such the properties owned by of the Borrower or any Subsidiary is subject to a Lien, except as allowed under Section 6.

Appears in 1 contract

Samples: Loan Agreement (Piper Jaffray Companies Inc)

Title to Property; Leases; Liens; Subordination. Each of the Borrower and the Subsidiaries has (a) good and marketable title to its real properties and (b) good and sufficient title to, or valid, subsisting and enforceable leasehold interest in, its other material properties, including all real properties, other properties and assets, referred to as owned by the Borrower and its Subsidiaries in the most recent financial statement referred to in Section 4.5 5.1 (other than property disposed of since the date of such financial statements in the ordinary course of business). None of such properties owned by the Borrower or any Subsidiary is subject to a Lien, except as allowed under Section 66.12.

Appears in 1 contract

Samples: Credit Agreement (Reliastar Financial Corp)

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