Condition and Sufficiency of Tangible Assets Sample Clauses

Condition and Sufficiency of Tangible Assets. The tangible Assets are in reasonably good condition and repair, normal wear and tear excepted, and are adequate for the uses to which they are being put. None of the tangible Assets that are material to the operation of the Business is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The tangible Assets are sufficient in all material respects for the continued conduct of the Business after the Closing in substantially the same manner as conducted prior to the Closing.

Condition and Sufficiency of Tangible Assets. The furniture, fixtures, equipment, machinery, vehicles and other items of tangible personal property of the Company are in good operating condition and repair, reasonable wear and tear excepted, and are adequate for the conduct of the Business as currently conducted. None of such furniture, fixtures, equipment and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The operation of the Company’s business as it has been conducted by the Company since December 31, 2017 is not dependent upon the right to use the furniture, fixtures, machinery, equipment, vehicles, computer systems and other items of tangible personal property of Persons other than the Company, except for such furniture, fixtures, machinery, equipment, vehicles, computer systems and other items of tangible personal property that are leased, licensed or otherwise contracted to the Company. The furniture, fixtures, equipment and other items of tangible personal property currently owned or leased by the Company, together with all other properties and assets of the Company, are sufficient for the continued conduct of the Company’s business after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property and assets necessary to conduct the business of the Company as currently conducted. All furniture, fixtures, equipment and other items of tangible personal property of the Company are set forth on Section 3.10 of the Disclosures Schedules.

Condition and Sufficiency of Tangible Assets. (a) Except as set forth on Part 3.12(a)(i), the Improvements are structurally sound, are in good operating condition and repair, ordinary wear and tear excepted, are free from latent and patent defects, and are adequate for the uses to which they are being put, except for such defects which would not cause a Material Adverse Effect. Except as set forth on Part 3.12(a)(ii), each item of tangible personal property of the Company with a value in excess of U.S.$15,000 is in good operating condition and repair, ordinary wear and tear excepted, is free from latent and patent defects and is suitable for immediate use in the Ordinary Course of Business. Except as set forth on Part 3.12(a)(iii), the Real Property and tangible personal property owned or leased by the Company constitute substantially all real property and tangible personal property used by the Company that are necessary for the continued operation of the Company consistent with past practice after the Closing. (b) As of the Closing Date, the Company does not own or lease any aircraft engines except aircraft engines that are part of Inventory.

Condition and Sufficiency of Tangible Assets. The tangible Assets owned or leased by each of MMG and MMC are in good operating condition and repair having regard to their use and age. The tangible Assets are suitable for their intended use. None of such tangible Assets is in need of maintenance or repairs, except for normal maintenance and repairs that are not material in nature or cost. There are no Assets owned by any Person (other than MMG and MMC) that are used in connection with the Business as currently conducted.

Condition and Sufficiency of Tangible Assets. The Improvements are structurally sound, are in good operating condition and repair, ordinary wear and tear excepted, are free from latent and patent defects, and are adequate for the uses to which they are being put. Except as set forth on Section 3.12 of Seller's Disclosure Schedule, ------------ each item of tangible personal property of the Company is in good operating condition and repair, ordinary wear and tear excepted, is free from latent and patent defects and is suitable for immediate use in the Ordinary Course of Business for the uses to which they are being put. The Company has good and marketable title to, or a valid leasehold interest in, the properties and assets used by it, located on its premises, or shown on the Latest Balance Sheet or acquired after the date thereof, free and clear of all Encumbrances (other than Permitted Encumbrances), except for properties and assets disposed of in the Ordinary Course of Business since the date of the Latest Balance Sheet. The Real Estate Property and tangible personal property of the Company constitute all such assets used by the Company or necessary for the continued operation of the Company after the Closing in the same manner as within the 12 (twelve) months prior to the Closing. Except as set forth on Section 3.12 of Seller's Disclosure Schedule, the ------------ Company does not own or lease real estate property or tangible personal property (a) not used in its business which is used by any other Person, or (b) used in its business but the use of which is made available to other entities for matters unrelated to the Company's business.

Condition and Sufficiency of Tangible Assets. The tangible Assets are in good, working condition and repair, normal wear and tear excepted, and are adequate for the uses to which they are being put. None of the tangible Assets that are material to the operation of the Business is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The tangible Assets are sufficient in all material respects for the continued conduct of the Business after the Closing in substantially the same manner as conducted prior to the Closing. The tangible Assets will be delivered to Buyer in the condition that they existed as utilized by Seller immediately prior to Closing.

Condition and Sufficiency of Tangible Assets. The tangible Assets of Company and its Subsidiaries are in reasonably good condition and repair, and to Company’s Knowledge are adequate for the uses to which they are being put. None of the tangible Assets that are material to the operation of the Business is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The tangible Assets are sufficient in all material respects for the continued conduct of the Business immediately after the Closing in substantially the same manner as conducted prior to the Closing.

Condition and Sufficiency of Tangible Assets. To Sellers’ Knowledge, the Improvements are structurally sound, are in good operating condition and repair, ordinary wear and tear excepted, are free from latent and patent defects, and are adequate for the uses to which they are being put. To Sellers’ Knowledge, each item of tangible personal property of the Company is in good operating condition and repair, ordinary wear and tear excepted, is free from latent and patent defects and is suitable for immediate use in the Ordinary Course of Business. The Real Property and tangible personal property of the Company constitute all such assets necessary for the continued operation of the Company after the Closing in substantially the same manner as before the Closing.

Condition and Sufficiency of Tangible Assets. The tangible assets owned or leased by the Corporation, are in good operating condition and repair having regard to their use and age and are adequate and suitable for the uses to which they are being put. None of such tangible assets is in need of maintenance or repairs, except for normal maintenance and repairs. The tangible assets owned or leased by the Corporation constitute all of the tangible assets used or held for use in connection with the business and activities of the Corporation as currently conducted.