Common use of Assets Other Than Real Property Clause in Contracts

Assets Other Than Real Property. The Borrower, the Guarantor and its subsidiaries has good title to all tangible assets owned by them reflected in the 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, the Guarantor or its subsidiaries. The Borrower, the Guarantor and its subsidiaries own, or lease all the intangible personal property currently used in the conduct of its business as presently conducted. All the intangible personal property owned by the Borrower, the Guarantor or 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 or the Guarantor is in all material respects in the condition required of such property by the terms of the lease applicable thereto.