Common use of Good Condition Clause in Contracts

Good Condition. The buildings, facilities, machinery, equipment, furniture, leasehold and other improvements, fixtures, vehicles, structures, any related capitalized items and other tangible property owned by or leased to the Contributed Subsidiaries (i) are to ZGNA's and the Contributed Subsidiaries' best knowledge, in all material respects in good operating condition and repair (normal wear and tear excepted) and, in the case of buildings or structures located on the Subsidiary Real Properties, free of any structural or engineering defects, and (ii) to ZGNA's and the Contributed Subsidiaries' best knowledge, are suitable in all material respects for their current use. ZGNA and the Contributed Subsidiaries have not received notice of, and have no knowledge of, any pending, threatened or contemplated condemnation proceeding or similar taking affecting the assets of the Contributed Subsidiaries (including the Subsidiary Real Properties).

Appears in 2 contracts

Sources: Merger Agreement (Hauser Chemical Research Inc), Merger Agreement (Zuellig Group N a Inc)