Purchased Fixed Assets definition
Examples of Purchased Fixed Assets in a sentence
All machinery, equipment, leasehold improvements, furniture, furnishings, plant and office equipment and other fixed assets used in the Business, including without limitation, the machinery and equipment listed on Schedule 1.3 hereto (hereinafter collectively called the "Purchased Fixed Assets").
All Purchased Fixed Assets are and will be, as of the Closing Date, in good working order and condition and suitable for use in the operation of the business of the Business, subject to ordinary wear and tear.
If requested by Buyer, Seller shall provide reasonable assistance as agreed between the parties with respect to the removal of the Purchased Fixed Assets in Seller’s possession.
The Purchased Fixed Assets are, and on the Closing Date will be, free of latent defects known to Seller.
Within fourteen (14) calendar days after the Closing, the Purchaser shall prepare and deliver to the Debtor a report of such inventory, which shall contain the Purchaser's determination of those Purchased Fixed Assets that are located at the Debtor's plant in Plainfield, New Jersey (the "Fixed Asset Report").
Except as set forth in Section 4.6-A of the Disclosure Schedule, the Purchased Fixed Assets currently in use or necessary for normal production and sales levels are, in all material respects, in good operating condition, normal wear and tear excepted.
Upon the expiration of this Agreement, Buyer shall have ten (10) calendar days in which to remove all Purchased Fixed Assets from Seller’s premises.
All items of personal property included in the Purchased Fixed Assets and all items of personal property that are subject to the Personal Property Leases are in reasonably good operating condition and repair, ordinary wear and tear excepted.
At Buyer’s request, Seller agrees to allow Buyer reasonable access to Seller’s employees performing Transition Services during the Transition Period (the “Employees”) and access to the Purchased Fixed Assets and other assets of Buyer in Seller’s possession for the purpose of assisting Buyer in the timely transition of the Business.