Condition of Personal Property Clause Samples

Condition of Personal Property. All tangible personal property, equipment, fixtures and inventories included within the assets of the Company are in good, merchantable or in reasonably repairable condition and are suitable for the purposes for which they are used. No value in excess of applicable reserves has been given to any inventory with respect to obsolete or discontinued products. To the best of the Company's knowledge, all of the inventories and equipment, including equipment leased to others, are well maintained and in good operating condition.

Condition of Personal Property. The inventory, equipment, fixtures and other tangible personal property and fixtures forming a part of the Collateral are in good repair and condition. All of such Collateral is located on the Land.

Condition of Personal Property. All tangible personal property, equipment, fixtures and inventories included within the assets of the Project are in good, merchantable or in reasonably repairable condition and are suitable for the purposes for which they are used. No value in excess of applicable reserves has been given to any inventory with respect to obsolete or discontinued products. To the best of the Seller’s knowledge, all of the inventories and equipment, including equipment leased to others, are well maintained and in good operating condition.

Condition of Personal Property. Except as set forth on Schedule 3.9, all items of Personal Property with a fair market value greater than $10,000 individually used in the operation of the business of the Company are in satisfactory operating condition and repair (reasonable wear and tear excepted) and are suitable for the purposes for which they are currently being used.

Condition of Personal Property. Exhibit 8.04 sets forth by category or item all of the tangible personal property owned or leased (identified as such) which is used or useful in connection with the operation of the Branches, with the fully depreciated net book value of owned property being also set fort on Exhibit 8.

Condition of Personal Property. SCHEDULE 4.16 sets forth a list of all equipment and other items of tangible personal property used by Sherman Oaks in the operation of the Hospital and to be purchased by ▇▇▇▇▇▇ Valley Operator (the "Personal Property"). Except as set forth on SCHEDULE 4.16, upon the closing of the transaction under the Sherman Oaks Purchase Agreement, Desert Valley Operator may grant Ac▇▇▇▇▇▇▇on Sub a first priority security interest in and to the Personal Property. SCHEDULE 4.16 sets forth an accurate and complete list of all leases of personal property used in the operation of the Hospital (the "Personal Property Leases"). The Seller Parties have made available the Purchaser Parties with complete, correct and current copies of all of the Personal Property Leases. Except as set forth on SCHEDULE 4.16: (i) the Seller Parties may, upon the closing of the transaction under the Sherman Oaks Purchase Agreement, grant a first priority security int▇▇▇▇▇ ▇n the Personal Property Leases to the Acquisition Sub, (ii) the Personal Property Leases have not been modified, amended or assigned, are legally valid, binding and enforceable in accordance with their respective terms and are in full force and effect; (iii) there are no monetary defaults and no material nonmonetary defaults by any party to the Personal Property Leases; and (iv) to the Knowledge of Seller Parties, no condition or event has occurred which with the passage of time or the giving of notice or both would constitute a default or breach by any Party of the terms of any Personal Property Lease. Except as set forth on SCHEDULE 4.16, all Personal Property is in good operating condition and repair, ordinary wear and tear excepted, and is located on the Real Property.

Condition of Personal Property. Seller represents and warrants to Buyer that all of the assets described in Sections 1.1(a) and 1.1

Condition of Personal Property. Attached hereto as Exhibit 3.1.15 and incorporated by reference herein is a true, correct and complete list of all personal property, owned by Seller or used by Seller in the conduct of its business, including, but not limited to, all equipment, machinery and fixtures, (collectively, the “Personal Property”), indicating whether it is owned or the manner in which the Personal Property is otherwise utilized by Seller. Seller has sole and exclusive, good and merchantable title to all of the Personal Property owned by it, free and clear of all pledges, claims, liens, restrictions, security interests, charges and other encumbrances. All of the Personal Property is in good repair and good operating condition, fit for its intended purposes, and is adequate for the continuation of Seller’s business.

Condition of Personal Property. 20 Section 4.17. Compliance with Environmental Laws....................... 21 Section 4.18. Insurance................................................ 22 Section 4.19. Litigation............................................... 22 Section 4.20. Contracts, Obligations and Commitments................... 23 Section 4.21. Employees and Employee Relations......................... 23 Section 4.22. Intangible Property...................................... 24 Section 4.23. Compliance with Law...................................... 24 Section 4.24. Hill Burton Obligations.................................. 25 Se▇▇▇▇▇ ▇.▇▇. Medical Staff Matters.................................... 25 Section 4.26. Brokers.................................................. 25 Section 4.27. Records.................................................. 25 Section 4.28. Existing Leases.......................................... 25 Section 4.29.