Common use of Titles to Properties Clause in Contracts

Titles to Properties. Each of the U.S. Borrower and its Subsidiaries has such title to the real property owned or leased by it as is reasonably necessary to the conduct of its business and valid and legal title to all of its personal property and assets, including, but not limited to, those reflected on the balance sheets of the U.S. Borrower, the Borrower and their respective Subsidiaries delivered pursuant to Sections 5.2(e)(i), 7.1(a), (b), and (d) except those which have been disposed of by the U.S. Borrower or its Subsidiaries subsequent to such date which dispositions have been in the ordinary course of business or as otherwise expressly permitted hereunder.

Titles to Properties. Each of the U.S. Borrower and its Subsidiaries has such title to the real property owned or leased by it as is reasonably necessary to the conduct of its business and valid and legal title to all of its personal property and assets, including, but not limited to, those reflected on the balance sheets of the U.S. Borrower, the Borrower and their respective Subsidiaries delivered pursuant to Sections Section 5.2(e)(i), Section 7.1(a), (b), ) and (d) except those which have been disposed of by the U.S. Borrower or its Subsidiaries subsequent to such date which dispositions have been in the ordinary course of business or as otherwise expressly permitted hereunder.