Assets in Good Condition Sample Clauses
The 'Assets in Good Condition' clause requires that any assets involved in the agreement—such as equipment, property, or inventory—must be maintained and delivered in a state that is functional, safe, and free from significant defects. In practice, this means the party responsible for providing the assets must ensure they are regularly serviced, repaired as needed, and meet any agreed-upon standards of quality or usability at the time of transfer or use. This clause serves to protect the receiving party from inheriting assets that are damaged or unfit for their intended purpose, thereby reducing disputes and ensuring the smooth operation of the agreement.
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Assets in Good Condition. Each of the Assets which is a tangible asset is and will be at the Closing in good working order and condition.
Assets in Good Condition. All the physical Assets comprising the Purchased Assets are in good operating condition and in a state of good maintenance and repair having regard to the use to which the Assets are put and the age thereof. There are no facts or conditions affecting the Purchased Assets which could interfere in any respect with the use, occupancy or operation of the Purchased Assets as currently used, occupied or operated.
Assets in Good Condition. All the material physical assets of Borrower and the Subsidiaries are in good operating condition and in a state of good maintenance and repair subject to the usual wear and tear for assets of that age.
Assets in Good Condition. Except as may be stated in Section 3.15 of the Disclosure Schedule for the Merging Company, each material asset of the Merging Company which is a tangible asset is in good working order and condition, reasonable wear and tear excepted.
Assets in Good Condition. All the material physical assets of each Loan Party and its respective Subsidiaries are in good operating condition and in a state of good maintenance and repair subject to the usual wear and tear for assets of that age.
Assets in Good Condition. All material physical WinView Business Assets are in good operating condition and in a state of good maintenance and repair having regard to the use to which the assets are put and the age thereof, normal wear and tear excepted.
Assets in Good Condition. All physical assets of the Company and its Subsidiaries carried for value on the SEC Financial Statements are in good operating condition and in a state of good maintenance and repair having regard to the use to which such assets are put and the age thereof.
Assets in Good Condition. All material physical Aleafia business assets are in good operating condition and in a state of good maintenance and repair having regard to the use to which the assets are put and the age thereof, normal wear and tear excepted.
Assets in Good Condition. Except as may be stated in Section 3.1.15 of DaMert's Disclosure Schedule, each material asset of DaMert which is a tangible asset is in good working order and condition, reasonable wear and tear excepted.
Assets in Good Condition. All material physical Frankly business assets are in good operating condition and in a state of good maintenance and repair having regard to the use to which the assets are put and the age thereof, normal wear and tear excepted.