Common use of Owned Properties Clause in Contracts

Owned Properties. Section 3.22 of the Disclosure Schedule sets forth a list of all owned real property (the "Owned Real Property") used by the Company in the operation of the Business. With respect to each such parcel of Owned Real Property: (i) such parcel is free and clear of all encumbrances (except for Permitted Liens); (ii) except as disclosed in Section 3.22 of the Disclosure Schedule, there are no leases, subleases, licenses, concessions, or other agreements, written or oral, granting to any person the right of use or occupancy of any portion of such parcel; and (iii) there are no outstanding actions or rights of first refusal to purchase such parcel.

Appears in 4 contracts

Sources: Merger Agreement (Hk Merger Corp), Merger Agreement (Happy Kids Inc), Merger Agreement (Happy Kids Inc)

Owned Properties. Section 3.22 3.24 of the Disclosure Schedule sets forth a list of all owned real property (the "Owned Real Property") used by the Company company in the operation of the BusinessCompany's business. With respect to each such parcel of Owned Real Property: (i) such parcel is free and clear of all encumbrances (except for Permitted Liens); (ii) except as disclosed in Section 3.22 3.24 of the Disclosure Schedule, there are no leases, subleases, licenses, concessions, or other agreements, written or oral, granting to any person the right of use or occupancy of any portion of such parcel; and (iii) there are no outstanding actions or rights of first refusal to purchase such parcel.

Appears in 2 contracts

Sources: Merger Agreement (Integrated Circuit Systems Inc), Merger Agreement (Microclock Inc)