Common use of Assets Other Than Real Property Clause in Contracts

Assets Other Than Real Property. The Borrower and each of its subsidiaries has good title ▇▇▇ all tangibles assets owned by them reflected in the Borrower SEC Reports and financial information, free and clear of all Liens that individually or in the aggregate would not have a Material Adverse Effect on the Borrower or its subsidiaries. The Borrower and each of its subsidiaries owns, or leases all tangible personal property currently used in the conduct of its business as presently conducted. All the intangible personal property owned by the Borrower and each of its subsidiaries is in all material respects in good operating condition and repair, ordinary wear and tear excepted, and all personal property leased by the Borrower and each of its subsidiaries is in all material respects in the condition required of such property by the terms of the lease applicable thereto.