Common use of Lease of Real and Personal Property Clause in Contracts

Lease of Real and Personal Property. The Disclosure Letter sets ----------------------------------- forth a list of (a) all leases pursuant to which either Seller leases, as lessee, real property, (b) all leases pursuant to which either Seller leases, as lessor, real property and (c) all leases pursuant to which either Seller leases, as lessee, personal property for use in its Business and which either (i) are or should have been reflected as liabilities on the June 30, 1998 Balance Sheets or (ii) provide for annual rental payments in excess of $1,000 per annum. Except as set forth in the Disclosure Letter, as to all leases listed in the Disclosure Letter, the appropriate Seller (A) has performed all material obligations required to be performed by it prior to the date hereof and (B) is not in default or, to its Knowledge, alleged to be in default. To the Knowledge of Endeavor and the Sellers, there exists no material default, or any event which upon the giving of notice or passage of time would give rise to any material default, in the performance of any obligation to be performed by any other party to any of such leases.

Lease of Real and Personal Property. The Disclosure Letter sets ----------------------------------- forth a list of (a) all leases pursuant to which either Seller leases, as lessee, real property, (b) all leases pursuant to which either Seller leases, as lessor, real property and (c) all leases pursuant to which either Seller leases, as lessee, personal property for use in its Business and which either (i) are or should have been reflected as liabilities on the June 30, 1998 Balance Sheets or (ii) provide for annual rental payments in excess of $1,000 per annum. Except as set forth in the Disclosure Letter, as to all leases listed in the Disclosure Letter, the appropriate Seller (A) has performed all material obligations required to be performed by it prior to the date hereof and (B) is not in default or, to its Knowledge, alleged to be in default. To the Knowledge of Endeavor and the Sellers, there exists no material default, or any event which upon the giving of notice or passage of time would give rise to any material default, in the performance of any obligation to be performed by any other party to any of such leases.