Common use of Other Tangible Personal Property Clause in Contracts

Other Tangible Personal Property. The books and records of Company contain a complete and accurate description, and specify the location, of all motor vehicles, machinery, equipment, furniture, fixtures, supplies, tools, and all other tangible personal property owned by, in the possession of, or used by Company in connection with its business. The Acquired Assets constitute all tangible personal property necessary for the conduct by Company of its business as now conducted. No personal property used by Company in connection with its business is held under any lease, security agreement, conditional sales contract, or other title retention or security arrangement, or is other than in the possession and under the control of Company except as stated in Schedule 2. All such personal property is in good operating condition and repair, ordinary wear and tear excepted.