Complete Systems. The Assets represent all assets, properties, franchises, licenses, permits, consents, certificates, authorities, operating rights, leases, contracts, (with the exception of programming contracts and retransmission consents which Buyer acknowledges may need to be replaced in order for Buyer to continue to operate the Business), agreements, commitments and arrangements reasonably necessary for the conduct of the Business in the ordinary course in the same manner as that in which such business is currently conducted by Seller. No property of the type or nature defined in this Agreement as an "Asset" has been removed, sold, transferred or conveyed since January 1, 1996, except (i) in the ordinary course of business, (ii) for property which has been replaced or (iii) for property which was not necessary for the operation of the Business.
Appears in 2 contracts
Sources: Asset Purchase Agreement (American Cable Tv Investors 5 LTD), Asset Purchase Agreement (American Cable Tv Investors 5 LTD)