Owned Personal Property definition
Examples of Owned Personal Property in a sentence
For purposes of this Section, the value or physical condition of the Owned Personal Property shall be deemed to differ materially from the date hereof if the sum of the book value, as shown on the Gold ▇▇▇▇'▇ books and records, of the Owned Personal Property destroyed or damaged, or the aggregate costs of all necessary repairs to, and replacements of, the Owned Personal Property, is greater than ten percent (10%) of its book value as shown on the Gold ▇▇▇▇'▇ books and records.
To the Best Knowledge of Gold ▇▇▇▇, the Owned Personal Property and the Leased Personal Property is, collectively, in reasonable operating condition, and has been appropriately maintained in the ordinary course of business, conforms to all material requirements of law and is substantially fit for use in accordance with and sufficient for Gold ▇▇▇▇'▇ present operations, subject to ordinary wear and tear.
The Owned Personal Property, together with the other Purchased Assets, constitute all assets of Gold ▇▇▇▇ which, together with the Transition Agreement, are necessary to conduct the Inputs Business in the same manner and to the extent currently conducted by Gold ▇▇▇▇.
Purchaser shall pay any sales tax due on the transfer of either Seller's leasehold interest in and to the Leased Personal Property or title to the Owned Personal Property to Purchaser.
The term "Owned Personal Property" shall have the meaning set forth in Section 6.9.1.