Common use of Movable Property Clause in Contracts

Movable Property. 4.2.1 The Companies of the Matchmind Group hold valid title over all the movable property they use during the ordinary course of their businesses, specifically including: data processing equipment, furniture, motor vehicles, machinery and any other tangible assets. These are free from any mortgages, pledges, charges, liens, attachments, third-party rights or any other similar constraints, except the provisions set forth in Appendix 4.2.1. 4.2.2 Apart from normal wear and tear arising from the use of such assets, all the machinery and equipment employed by the Companies of the Matchmind Group is in a good state of repair and maintenance and in satisfactory working condition. Such machinery and equipment may be properly used for the purpose for which it was designed and for which it has been used by the Companies of the Matchmind Group.

Appears in 1 contract

Sources: Promissory Agreement for the Purchase/Sale of Shares (Telvent Git S A)

Movable Property. 4.2.1 The Holding Companies and the Companies of the Matchmind Group hold valid title over all the movable property they use during the ordinary course of their businesses, specifically including: data processing equipment, furniture, motor vehicles, machinery and any other tangible assets. These are free from any mortgages, pledges, charges, liens, attachments, third-party rights or any other similar constraints, except the provisions set forth in Appendix 4.2.1. 4.2.2 Apart from normal wear and tear arising from the use of such assets, all the machinery and equipment employed by the Holding Companies or the Companies of the Matchmind Group is in a good state of repair and maintenance and in satisfactory working condition. Such machinery and equipment may be properly used for the purpose for which it was designed and for which it has they have been used by the Holding Companies or the Companies of the Matchmind Group.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Telvent Git S A)