Leases and Real Property Clause Samples

Leases and Real Property. No Borrower owns any real property other than fixtures that may relate to various leaseholds. All leases and other agreements under which any Borrower occupies real property are in full force and effect and constitute legal, valid and binding obligations of, and are legally enforceable against, the Borrower party thereto and, to the Borrowers’ best knowledge, are the binding obligations of and legally enforceable against, the other parties thereto. To the Borrowers’ best knowledge, all necessary governmental approvals, if any, have been obtained for each such lease or agreement, and there have been no threatened cancellations thereof or outstanding disputes with respect thereto.

Leases and Real Property. Except as disclosed on Schedule 5.17 attached hereto, as of the Restatement Date, no Borrower owns any real property other than fixtures that may relate to various leaseholds. All leases and other agreements under which any Borrower occupies real property are in full force and effect and constitute legal, valid and binding obligations of, and are legally enforceable against, the Borrower party thereto and, to the Borrowers’ best knowledge, are the binding obligations of and legally enforceable against, the other parties thereto. To the Borrowers’ best knowledge, all necessary Government approvals, if any, have been obtained for each such lease or agreement, and there have been no threatened cancellations thereof or outstanding disputes with respect thereto, except for any of the foregoing that would not reasonably be expected to result in a Material Adverse Effect.

Leases and Real Property. No Borrower owns any real property. All leases and other agreements under which any Borrower occupies real property are in full force and effect and constitute legal, valid and binding obligations of, and are legally enforceable against, the Borrower party thereto and, to the Borrowers’ best knowledge, are the binding obligations of and legally enforceable against, the other parties thereto. All necessary governmental approvals, if any, have been obtained for each such lease or agreement, and there have been no threatened cancellations thereof or outstanding disputes with respect thereto.

Leases and Real Property. All material leases and other ------------------------ material agreements under which each Borrower occupies real property are in full force and effect and constitute legal, valid and binding obligations of, and are legally enforceable against, each Borrower, and to the best of each Borrower's knowledge, are the binding obligations of and legally enforceable against, the other parties thereto. All necessary governmental approvals required to have been obtained by each Borrower, if any, have been obtained for each such material lease or agreement, and to each Borrower's knowledge there have been no threatened cancellations thereof, and there are no outstanding material disputes with respect thereto. No Borrower owns any interest in real property (other than the real property and leasehold interests listed on Schedule 5.17 hereto). -------------

Leases and Real Property. No Borrower owns any real property. All ------------------------ material leases and other agreements under which any Borrower occupies real property are in full force and effect and constitute legal, valid and binding obligations of, and are legally enforceable against, the Borrower party thereto and, to the Borrowers' best knowledge, are the binding obligations of and legally enforceable against, the other parties thereto. All necessary governmental approvals, if any, have been obtained for each such material lease or agreement, and there have been no threatened cancellations thereof or outstanding material disputes with respect thereto. The landlord for the premises in which the Parent Company's headquarters is located has subordinated (or expressly assumed terms, covenants and conditions of subordination) for the benefit of the Administrative Agent, on terms and conditions reasonably satisfactory to the Administrative Agent, any landlord's or lessor's lien which may now or hereafter exist (whether by statute, contract or otherwise) on any of the Collateral located at such premises.

Leases and Real Property. The lease agreements set forth on Schedule 4.1(R) are the only leases of real property used in the Business. The Seller enjoys peaceful and quiet possession of its leased premises, has not subleased or granted any rights to third parties for the use of such leased property, has not received any written notice from the landlord asserting the existence of a material default by Seller or other outstanding liability of Seller under the Lease. The Seller does not now, nor has it ever owned, any real property.

Leases and Real Property. (i) the Vendors do not own and have never owned any real property; (ii) Section 1.1E of the Disclosure Letter lists all of the Leases, which constitute all of the real property necessary to conduct the Business as currently conducted. Complete copies of the Leases have been provided to the Purchaser. The Vendors are entitled to all rights and benefits as lessee under the Leases and the Vendors have not sublet, assigned, transferred, licensed, sublicensed, mortgaged, pledged, hypothecated, deeded in trust, encumbered or otherwise conveyed any rights in the Facilities or the Leases to any other person, including the right to use or occupy any portion of the Facilities; (iii) Section 1.1E of the Disclosure Letter contains a description of each of the Leases setting out, in respect of each Lease, the tenant/lessee, the landlord/lessor, a description of the leased premises (by municipal address, unit number, proper legal description and any property identification number, title number or similar unique property identifier), the term of such Lease and any rights of extension or renewal (and the term thereof); (iv) the Vendors have adequate rights of ingress and egress into each of the Facilities for the operation of the Business in the Ordinary Course; (v) the Vendors are not in default of any of their material obligations including environmental obligations under any of the Leases or the Equipment Leases and, to the knowledge of the Vendors, none of the landlords or lessors under the Leases and the Equipment Leases are in default of any of their material obligations under any of the Leases or the Equipment Leases. No waiver, indulgence or postponement of the Vendors’ obligations under any of the Leases or the Equipment Leases has been granted by the landlord or the lessor thereunder; (vi) the Vendors have not received any notice or request from any municipal department or Governmental Authority requiring any material work or alterations with respect to the Facilities, which has not been complied with, and the Vendors have not received any notice of any threatened condemnation, expropriation or similar proceedings with respect to any of the Facilities; and (vii) except as disclosed in Section 1.1E of the Disclosure Letter, no consent is required nor is any notice required to be given under any of the Leases by any party thereto or any other person in connection with the completion of the transaction contemplated by this Agreement in order to maintain all rights ...

Leases and Real Property. No Borrower or Domestic Non-Borrower Affiliate owns any real property other than fixtures that may relate to various leaseholds. All leases and other agreements under which any Borrower or Domestic Non-Borrower Affiliate occupies real property are in full force and effect and constitute legal, valid and binding obligations of, and are legally enforceable against, the Borrower or Domestic Non-Borrower Affiliate party thereto and, to the Borrowers' best knowledge, are the binding obligations of and legally enforceable against, the other parties thereto. To the Borrowers' best knowledge, all necessary governmental approvals, if any, have been obtained for each such lease or agreement, and there have been no threatened cancellations thereof or outstanding disputes with respect thereto.

Leases and Real Property. The Seller has delivered true and complete copies of its leases for real property to the Purchaser (the "Leased Premises"), all of which are listed on Schedule 3.9. Neither the Seller nor any landlord is in default on such lease, and the Seller has not received notice that it is in default under any such lease, and, to the knowledge of the Seller, there exists no event, occurrence, condition or act (including the consummation of the transactions contemplated hereby) that, with the giving of notice, lapse of time or happening of any event or condition would become a default by the Seller. The Seller has paid all rents and costs due to each landlord through the date hereof and shall continue to do so and to comply with all other terms and conditions of the Leases through the Closing Date. The Seller owns no real property.