Common use of Title to Property; No Liens Clause in Contracts

Title to Property; No Liens. The Borrower and each Subsidiary of the Borrower has good and marketable title in fee simple to all real Property owned or purported to be owned by it and good title to all other Property of whatever nature owned or purported to be owned by it, including but not limited to all Property reflected in the most recent audited balance sheet referred to in Section 3.06 or submitted pursuant to Section 5.01(b), as the case may be (except as sold or otherwise disposed of in the ordinary course of business after the date of such balance sheet), subject to no Liens except for (i) Liens reflected in the most recent audited balance sheet referred to in Section 3.06 or submitted pursuant to Section 5.01(b), as the case may be, (ii) Liens consisting of zoning or planning restrictions, easements, permits and other restrictions or limitations on the use of real Property or irregularities in title thereto which do not materially detract from the value of, or impair the use of, such Property by the Borrower or any Subsidiary of the Borrower in the operation of its business, (iii) Liens for current Taxes not yet due and delinquent and (iv) Liens set forth on Schedule IV.

Appears in 7 contracts

Samples: Credit Agreement (Nevada Power Co), Credit Agreement (Sierra Pacific Power Co), Credit Agreement (Sierra Pacific Resources)

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Title to Property; No Liens. The Borrower and each Subsidiary of the Borrower has good and marketable title in fee simple to all real Property owned or purported to be owned by it and good title to all other Property of whatever nature owned or purported to be owned by it, including but not limited to all Property reflected in the most recent audited balance sheet referred to in Section 3.06 or submitted pursuant to Section 5.01(b), as the case may be (except as sold or otherwise disposed of in the ordinary course of business after the date of such balance sheet), subject to no Liens except . Except for (i) Liens reflected in the most recent audited balance sheet referred to in Section 3.06 or submitted pursuant to Section 5.01(b), as the case may be, (ii) Liens consisting of zoning or planning restrictions, easements, permits and other restrictions or limitations on the use of real Property or irregularities in title thereto which do not materially detract from the value of, or impair the use of, such Property by the Borrower or any Subsidiary of the Borrower in the operation of its business, (iii) Liens for current Taxes not yet due and delinquent and (iv) Liens set forth on Schedule IV, no Property owned by the Borrower or any Subsidiary of the Borrower is subject to any Lien.

Appears in 3 contracts

Samples: Credit Agreement (Nevada Power Co), Credit Agreement (Nevada Power Co), Credit Agreement (Sierra Pacific Power Co)

Title to Property; No Liens. The Borrower and each Subsidiary of the Borrower has good and marketable title in fee simple to all real Property owned or purported to be owned by it and good title to all other Property of whatever nature owned or purported to be owned by it, including but not limited to all Property reflected in the most recent audited balance sheet referred to in Section 3.06 or submitted pursuant to Section 5.01(b), as the case may be (except as sold or otherwise disposed of in the ordinary course of business after the date of such balance sheet), subject to no Liens except . Except for (i) Liens reflected in the most recent audited balance sheet referred to in Section 3.06 or submitted pursuant to Section 5.01(b), as the case may be, (ii) Liens consisting of zoning or planning restrictions, easements, permits and other restrictions or limitations on the use of real Property or irregularities in title thereto which do not materially detract from the value of, or impair the use of, such Property by the Borrower or any Subsidiary of the Borrower in the operation of its business, (iii) Liens for current Taxes not yet due and delinquent and (iv) Liens set forth on Schedule IVpermitted by Section 6.02 , no Property owned by the Borrower or any Subsidiary of the Borrower is subject to any Lien.

Appears in 1 contract

Samples: Credit Agreement (Sierra Pacific Power Co)

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Title to Property; No Liens. The Borrower and each Subsidiary of the Borrower has good and marketable title in fee simple to all real Property owned or purported to be owned by it and good title to all other Property of whatever nature owned or purported to be owned by it, including but not limited to all Property reflected in the most recent audited balance sheet referred to in Section 3.06 or submitted pursuant the balance sheet referred to in Section 5.01(b)3.07, as the case may be (except as sold or otherwise disposed of in the ordinary course of business after the date of such balance sheet), subject to no Liens except . Except for (i) Liens reflected in the most recent audited balance sheet referred to in Section 3.06 or submitted pursuant the balance sheet referred to in Section 5.01(b)3.07, as the case may be, (ii) Liens consisting of zoning or planning restrictions, easements, permits and other restrictions or limitations on the use of real Property or irregularities in title thereto which do not materially detract from the value of, or impair the use of, such Property by the Borrower or any Subsidiary of the Borrower in the operation of its business, (iii) Liens for current Taxes not yet due and delinquent and (iv) Liens set forth on Schedule IVpermitted by Section 6.02, no Property owned by the Borrower or any Subsidiary of the Borrower is subject to any Lien.

Appears in 1 contract

Samples: Credit Agreement (Sierra Pacific Power Co)

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