Common use of Leased Personal Property Clause in Contracts

Leased Personal Property. Other than Personal Property owned by the Company or the Company Subsidiary, the Company or the Company Subsidiary has good and valid leasehold title to all of the tangible personal property Assets used by the Company or the Company Subsidiary, free and clear of any and all Encumbrances other than Permitted Encumbrances which would not permit the termination of the lease therefor by the lessor. Disclosure Schedule 3.9(c) sets forth all Leases for personal property. With respect to each Lease listed on Disclosure Schedule 3.9(c), (i) there has been no breach or default under such Lease by the Company, the Company Subsidiary or by any other party, (ii) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not cause (with or without notice and with or without the passage of time) a default under any such Lease, (iii) such Lease is a valid and binding obligation of the applicable lessor, is in full force and effect and is enforceable by the Company or the Company Subsidiary in accordance with its terms, (iv) no action has been taken by the Company or the Company Subsidiary and no event has occurred which, with notice or lapse of time or both, would permit termination, modification or acceleration by a party thereto other than by the Company or the Company Subsidiary without the consent of the Company or the Company Subsidiary, (v) no party has repudiated any term thereof or threatened to terminate, cancel or not renew any such Lease, and (vi) neither the Company nor the Company Subsidiary has assigned, transferred, conveyed, mortgaged or encumbered any interest therein or in any leased property subject thereto (or any portion thereof).

Leased Personal Property. Other than Personal Property owned by the Company or the Company Subsidiary(i) Except as set forth in Schedule 3.14(c), the Company or the Company Subsidiary has Companies have a good and valid leasehold title to interest in all of the such Fixtures and Equipment, vehicles and other tangible personal property Assets used leased by the Company or the Company Subsidiarythem from third parties, free and clear of any and all Encumbrances other than Permitted Encumbrances which would not permit the termination of the lease therefor by the lessor. Disclosure Schedule 3.9(c3.14(c) sets forth all Leases for personal property. property ("Personal Property Leases") involving annual payments in excess of $5,000, true and correct copies of which have been delivered to Buyer. (ii) With respect to each such Lease listed on Disclosure in Schedule 3.9(c3.14(c), (iA) there has been is no breach or material default under any such Personal Property Lease by the CompanyCompanies or, to the Company Subsidiary or knowledge of Shareholders, by any other partyparty thereto, (ii) B), except as set forth in Schedule 3.4, the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not cause (with or without notice and with or without the passage of time) a material default under any such Personal Property Lease, (iiiC) such Personal Property Lease is a valid and binding obligation of the applicable lessorCompanies, is in full force and effect with respect to the Companies and is enforceable by against the Company or the Company Subsidiary Companies in accordance with its terms, except as the enforceability thereof may be limited by (iv1) applicable bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or similar laws in effect which affect the enforcement of creditors' rights generally or (2) general principles of equity, whether considered in a proceeding at law or in equity, (D) no action has been taken by the Company or Companies and, to the Company Subsidiary and knowledge of Shareholders no event has occurred which, with notice or lapse of time or both, would permit termination, modification or acceleration by a party thereto other than by the Company or the Company Subsidiary Companies, without the consent of the Company or Companies, under any such Personal Property Lease that is material to the Company SubsidiaryCompanies, (vE) to the knowledge of Shareholders, no party has repudiated in writing any term thereof or threatened in writing to terminate, cancel or not renew any such Lease, Personal Property Lease that is material to the Companies and (viF) neither except as set forth in Schedule 3.14(c), the Company nor the Company Subsidiary has Companies have not assigned, transferred, conveyed, mortgaged or encumbered any interest therein or in any leased property subject thereto (or any portion thereof).

Leased Personal Property. Other than Personal Property owned by the Company or the Company Subsidiary(i) Except as set forth in Schedule 3.14, the Company or the Company Subsidiary has and its Subsidiaries have a good and valid leasehold title to interest in all of the Fixtures and Equipment and other tangible personal property Assets used leased by the Company or the Company Subsidiaryit from third parties, free and clear of any and all Encumbrances other than Permitted Encumbrances which would not permit the termination of the lease therefor by the lessorEncumbrances. Disclosure Schedule 3.9(c) 3.14 sets forth all Leases leases for personal property. property ("Personal Property Leases") involving annual payments in excess of $17,500, true and correct copies of which have been delivered to Buyer. (ii) With respect to each such Lease listed on Disclosure in Schedule 3.9(c)3.14 and except as set forth therein, (iA) there has been no breach or default under such Lease by the Company, the Company Subsidiary or by any other party, (ii) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not cause (with or without notice and with or without the passage of time) a material default under any such LeasePersonal Property Lease by the Company or any of its Subsidiaries or, to the knowledge of the Stockholders or the Company, by any other party thereto, (iiiB) such Personal Property Lease is a valid and binding obligation of the applicable lessor, is in full force and effect and is enforceable by the Company or the Company Subsidiary in accordance with its termseffect, (ivC) no action has been taken by the Company or any of its Subsidiaries and, to the knowledge of the Stockholders or the Company Subsidiary and no event has occurred which, with notice or lapse of time or both, would permit termination, modification or acceleration by a party thereto other than by the Company or the Company Subsidiary and its Subsidiaries, without the consent of the Company and its Subsidiaries, under any such Personal Property Lease that is material to the Company and its Subsidiaries, (D) to the knowledge of the Stockholders or the Company SubsidiaryCompany, (v) no party has repudiated in writing any term thereof or threatened in writing to terminate, cancel or not renew any such Lease, Personal Property Lease that is material to the Company and its Subsidiaries and (viE) neither the Company nor the Company Subsidiary has and its Subsidiaries have not assigned, transferred, conveyed, mortgaged or encumbered any interest therein or in any leased property subject thereto (or any portion thereof).

Leased Personal Property. Other than Personal Property owned by the Company or the Company Subsidiary(i) Except as set forth in Schedule 3.14, the Company or the Company Subsidiary has and its Subsidiaries have a good and valid leasehold title to interest in all of the Fixtures and Equipment and other tangible personal property Assets used leased by the Company or the Company Subsidiaryit from third parties, free and clear of any and all Encumbrances other than Permitted Encumbrances which would not permit the termination of the lease therefor by the lessorEncumbrances. Disclosure Schedule 3.9(c) 3.14 sets forth all Leases leases for personal property. property ("Personal Property Leases") involving annual payments in excess of $50,000, true and correct copies of which have been delivered to Buyer. (ii) With respect to each such Lease listed on Disclosure in Schedule 3.9(c)3.14 and except as set forth therein, (iA) there has been no breach or default under such Lease by the Company, the Company Subsidiary or by any other party, (ii) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not cause (with or without notice and with or without the passage of time) a material default under any such LeasePersonal Property Lease by the Company or any of its Subsidiaries or, to the knowledge of the Company, by any other party thereto, (iiiB) such Personal Property Lease is a valid and binding obligation of the applicable lessor, is in full force and effect and is enforceable by the Company or the Company Subsidiary in accordance with its termseffect, (ivC) no action has been taken by the Company or any of its Subsidiaries and, to the knowledge of the Company Subsidiary and no event has occurred which, with notice or lapse of time or both, would permit termination, modification or acceleration by a party thereto other than by the Company or the Company Subsidiary and its Subsidiaries, without the consent of the Company or and its Subsidiaries, under any such Personal Property Lease that is material to the Company Subsidiaryand its Subsidiaries, (vD) to the knowledge of the Company, no party has repudiated in writing any term thereof or threatened in writing to terminate, cancel or not renew any such Lease, Personal Property Lease that is material to the Company and its Subsidiaries and (viE) neither except as set forth in Schedule 3.14, the Company nor the Company Subsidiary has and its Subsidiaries have not assigned, transferred, conveyed, mortgaged or encumbered any interest therein or in any leased property subject thereto (or any portion thereof).

Leased Personal Property. Other than Personal Property owned by the The Company or the Company Subsidiary, the Company or the Company Subsidiary has good and valid leasehold -------------------------- title to all of the its Fixtures and Equipment, vehicles and other tangible personal property Assets used leased by the Company or the Company Subsidiaryit from third parties, free and clear of any and all Encumbrances other than Permitted Encumbrances which would not permit the termination of the lease therefor by the lessor. Disclosure Schedule 3.9(c) 3.9 sets forth a true, correct and complete list of all Leases for leased personal propertyproperty involving annual payments by the Company in excess of $10,000. With respect to each Lease lease listed on Disclosure Schedule 3.9(c)3.9, (i) there has been no breach or material default under any such Lease lease by the Company or, to the knowledge of the Selling Shareholders or the Company, the Company Subsidiary or by any other party, (ii) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not cause (with or without notice and with or without the passage of time) a material default under any such Leaselease, (iii) such Lease lease is a valid and binding obligation of the applicable lessorCompany, is in full force and effect with respect to the Company, and is enforceable by against the Company or the Company Subsidiary Company, in accordance with its terms, except as the enforceability thereof may be limited by (1) applicable bankruptcy, insolvency, moratorium, reorganization or similar laws in effect which affect the enforcement of creditors' rights generally or (2) general principles of equity, whether considered in a proceeding at law or in equity, (iv) no action has been taken by the Company or the Company Subsidiary Company, and no event has occurred which, with notice or lapse of time or both, would permit termination, modification or acceleration by a party thereto other than by the Company or the Company Subsidiary without the consent of the Company or Company, under any such lease that is material to the Company SubsidiaryCompany, (v) no party has repudiated in writing any term thereof or threatened in writing to terminate, cancel or not renew any such Lease, lease that is material to the Company and (vi) neither the Company nor the Company Subsidiary has not assigned, transferred, conveyed, mortgaged or encumbered any interest therein or in any leased property subject thereto (or any portion thereof).

Leased Personal Property. Other than Personal Property owned by the Company or the Company SubsidiarySubsidiaries, the Company or the a Company Subsidiary has good and valid leasehold title to all of the tangible personal property Assets used by the Company or the any Company Subsidiary, free and clear of any and all Encumbrances other than Permitted Encumbrances which would not permit the termination of the lease therefor by the lessor. Disclosure Schedule 3.9(cDISCLOSURE SCHEDULE 3.9(C) sets forth all Leases for personal property. With respect to each Lease listed on Disclosure Schedule 3.9(cDISCLOSURE SCHEDULE 3.9(C), (i) there has been no breach or default under such Lease by the Company, the any Company Subsidiary or by any other party, (ii) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not cause (with or without notice and with or without the passage of time) a default under any such Lease, (iii) such Lease is a valid and binding obligation of the applicable lessor, is in full force and effect and is enforceable by the Company or the a Company Subsidiary in accordance with its terms, (iv) no action has been taken by the Company or the any Company Subsidiary and no event has occurred which, with notice or lapse of time or both, would permit termination, modification or acceleration by a party thereto other than by the Company or the a Company Subsidiary without the consent of the Company or the a Company Subsidiary, (v) no party has repudiated any term thereof or threatened to terminate, cancel or not renew any such Lease, and (vi) neither the Company nor the any Company Subsidiary has assigned, transferred, conveyed, mortgaged or encumbered any interest therein or in any leased property subject thereto (or any portion thereof).