Common use of Real Property Leased Clause in Contracts

Real Property Leased. The attached Schedule 1.2(k) lists and briefly describes all real properties leased or subleased to an Origen Entity or B▇▇▇▇▇▇ for use in connection with the operation of the Business (the "Leased Real Property"). Origen has delivered to the Company true, correct and complete copies of the leases and subleases listed on the attached Schedule 1.2(k). Except as set forth on the attached Schedule 4.8, with respect to each such lease or sublease: (a) the lease or sublease is legal, valid, binding, enforceable and in full force and effect; (b) the lease or sublease will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms following the Closing; (c) no Origen Entity nor, to the Knowledge of Origen and B▇▇▇▇▇▇, no other party to the lease or sublease is in breach or default, and with respect to B▇▇▇▇▇▇ and any Origen Entity, no event has occurred, and with respect to any other party thereto, to the Knowledge of Origen and B▇▇▇▇▇▇, no event has occurred which, with notice or lapse of time, would constitute such a breach or default or permit termination, modification or acceleration under the lease or sublease; (d) no party to the lease or sublease has repudiated any of its provisions; (e) there are no disputes, oral agreements or forbearance programs in effect as to the lease or sublease; (f) Neither B▇▇▇▇▇▇ nor any Origen Entity, as the case may be, has assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered all or any portion of its interest in the leasehold or subleasehold; (g) all facilities leased or subleased under the lease or sublease have been operated and maintained in material compliance with applicable laws, rules and regulations; (h) all facilities leased or subleased under the lease or sublease are supplied with utilities and other services necessary for the operation of such facilities; and (i) all facilities leased or subleased under the lease or sublease are in good operating condition, and would not, with ordinary wear and tear, require major repair or replacement during the remainder of the lease term. Except as set forth on the attached Schedule 4.8, no property insurer or similar body has made any recommendations with respect to any parcel of Leased Real Property which have not been complied with in all material respects, and all structures on the Leased Real Property meet all qualifications for "highly protected risk" classification for fire insurance purposes.

Appears in 1 contract

Sources: Merger Agreement (Bingham Financial Services Corp)

Real Property Leased. The Schedule 5.8 attached Schedule 1.2(khereto contains a list and brief description (including with respect to each lease a statement as to whether there is any requirement of consent of the lessor to the assignment and a statement as to whether the lessee has or has not agreed to subordinate the leasehold estate to any liens encumbering the property) lists and briefly describes of the terms of all real properties leased estate leases to which A-G Tech is a party (as lessee or subleased lessor). True, complete and correct copies (or, in the case of oral leases, descriptions) of each lease have been furnished to an Origen Entity or B▇▇▇▇▇▇ for use in connection with the operation of the Business (the "Leased Real Property"). Origen has delivered to the Company true, correct and complete copies of the leases and subleases listed on the attached Schedule 1.2(k). Except as set forth on the attached Schedule 4.8, with respect to each Each such lease or sublease: (a) the lease or sublease is legal, valid, binding, enforceable and in full force and effect; (b) the lease or sublease will continue to be legal, valid, binding, enforceable and in full force and effect and constitutes a legal, valid and binding obligation of the respective parties thereto. All rents and additional amounts due to date on identical terms following each such lease have been paid. In each case, the Closing; (c) no Origen Entity nor, to the Knowledge of Origen and B▇▇▇▇▇▇, no other party to the lease or sublease lessee is in breach peaceable possession under such lease, has a valid leasehold interest therein and is not in default thereunder and no waiver, indulgence or defaultpostponement of the lessee’s obligations thereunder has been granted by the lessor, and with respect to B▇▇▇▇▇▇ and nor does there exist any Origen Entityevent, no event has occurred, and with respect to any other party thereto, to the Knowledge of Origen and B▇▇▇▇▇▇, no event has occurred condition or occurrence which, with the giving of notice or the lapse of time, or both, would constitute such a breach default under any such lease. A-G Tech has not violated any of the terms or default or permit termination, modification or acceleration conditions under any such lease in any respect which violation would give rise to the right of the other party thereto to terminate such lease or sublease; (d) no party to the lease or sublease has repudiated any of its provisions; (e) there are no disputes, oral agreements or forbearance programs in effect as to the lease or sublease; (f) Neither B▇▇▇▇▇▇ nor any Origen Entityfor damages thereunder. All buildings, as the case may bestructures, has assigned, transferred, conveyed, mortgaged, deeded in trust appurtenances or encumbered all or any portion of its interest in the leasehold or subleasehold; real property leased by A-G Tech (ga) all facilities leased or subleased under the lease or sublease have been operated and maintained in material compliance with applicable laws, rules and regulations; (h) all facilities leased or subleased under the lease or sublease are supplied with utilities and other services necessary for the operation of such facilities; and (i) all facilities leased or subleased under the lease or sublease are in good operating conditioncondition and repair, (b) are in such condition as to permit surrender by A-G Tech to the lessors on the date hereof without any cost or expense to A-G Tech for repair or restoration if such leases were terminated on the date hereof, (c) are adequate and suitable for the uses for which intended by A-G Tech, and (d) afford adequate rights of ingress and egress for operation of its business in the ordinary course. None of such buildings, structures and appurtenances, any equipment therein nor the use, operation or maintenance thereof, violates any restrictive covenant or encroaches on any property owned by others. No condemnation proceeding is pending or, to the best of A-G Tech’s knowledge, threatened which would not, with ordinary wear and tear, require major repair preclude or replacement during impair the remainder use of any such property by A-G Tech for the uses for which intended by it. All of the lease term. Except as set forth on the attached Schedule 4.8foregoing conform to applicable Federal, no property insurer or similar body has made any recommendations with respect to any parcel of Leased Real Property which have not been complied with in all material respectsstate, territorial, local and all structures on the Leased Real Property meet all qualifications for "highly protected risk" classification for fire insurance purposesforeign laws and regulations (including applicable environmental and occupational safety and health laws and regulations and zoning and building ordinances).

Appears in 1 contract

Sources: Transfer Agreement (Atmospheric Glow Technologies Inc)

Real Property Leased. The Schedule 6.8 attached Schedule 1.2(k) lists hereto contains a list and briefly describes brief description of the terms of all real properties leased or subleased estate leases to an Origen Entity or Bwhich ▇▇▇▇ or its subsidiaries are a party (as lessee or lessor). Upon request of A-G Tech, true, complete and correct copies (or, in the case of oral leases, descriptions) of each lease will be provided. Each such lease is in full force and effect and constitutes a legal, valid and binding obligation of the respective parties thereto. All rents and additional amounts due to date on each such lease have been paid. In each case, the lessee is in peaceable possession under such lease, has a valid leasehold interest therein and is not in default thereunder and no waiver, indulgence or postponement of the lessee’s obligations thereunder has been granted by the lessor, nor does there exist any event, condition or occurrence which, with the giving of notice or the lapse of time, or both, would constitute such a default under any such lease. Neither ▇▇▇▇ nor its subsidiaries have violated any of the terms or conditions under any such lease in any respect which violation would give rise to the right of the other party thereto to terminate such lease or ▇▇▇ for damages thereunder. All buildings, structures, appurtenances or real property leased by ▇▇▇▇ or its subsidiaries (a) are in good operating condition and repair, (b) are in such condition as to permit surrender by ▇▇▇▇ to the lessors on the date hereof without any cost or expense to ▇▇▇▇ for use in connection with the operation of the Business (the "Leased Real Property"). Origen has delivered to the Company true, correct and complete copies of the repair or restoration if such leases and subleases listed were terminated on the attached Schedule 1.2(k). Except as set forth on the attached Schedule 4.8date hereof, with respect to each such lease or sublease: (a) the lease or sublease is legal, valid, binding, enforceable and in full force and effect; (b) the lease or sublease will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms following the Closing; (c) no Origen Entity norare adequate and suitable for the uses for which intended by ▇▇▇▇ or its subsidiaries, and (d) afford adequate rights of ingress and egress for operation of its business in the ordinary course. None of such buildings, structures and appurtenances, any equipment therein nor the use, operation or maintenance thereof, violates any restrictive covenant or encroaches on any property owned by others. No condemnation proceeding is pending or, to the Knowledge best of Origen and B▇▇▇▇▇▇’▇ knowledge, no other party to threatened which would preclude or impair the lease or sublease is in breach or default, and with respect to B▇▇use of any such property by ▇▇▇▇ and any Origen Entity, no event has occurred, and with respect to any other party thereto, to the Knowledge of Origen and B▇▇▇▇▇▇, no event has occurred which, with notice or lapse of time, would constitute such a breach or default or permit termination, modification or acceleration under the lease or sublease; (d) no party to the lease or sublease has repudiated any of its provisions; (e) there are no disputes, oral agreements or forbearance programs in effect as to the lease or sublease; (f) Neither B▇▇▇▇▇▇ nor any Origen Entity, as the case may be, has assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered all or any portion of its interest in the leasehold or subleasehold; (g) all facilities leased or subleased under the lease or sublease have been operated and maintained in material compliance with applicable laws, rules and regulations; (h) all facilities leased or subleased under the lease or sublease are supplied with utilities and other services necessary subsidiaries for the operation of such facilities; and (i) all facilities leased or subleased under the lease or sublease are in good operating condition, and would not, with ordinary wear and tear, require major repair or replacement during the remainder uses for which intended by it. All of the lease term. Except as set forth on the attached Schedule 4.8foregoing conform to applicable Federal, no property insurer or similar body has made any recommendations with respect to any parcel of Leased Real Property which have not been complied with in all material respectsstate, territorial, local and all structures on the Leased Real Property meet all qualifications for "highly protected risk" classification for fire insurance purposesforeign laws and regulations (including applicable environmental and occupational safety and health laws and regulations and zoning and building ordinances).

Appears in 1 contract

Sources: Transfer Agreement (Atmospheric Glow Technologies Inc)

Real Property Leased. The attached Schedule 1.2(k) 4.8 lists and briefly describes all real properties leased or subleased to an Origen Entity or B▇▇▇▇▇▇ by Seller for use in connection with the operation of the Business (the "Leased Real Property"). Origen Seller has delivered to the Company Purchaser true, correct and complete copies of the leases and subleases for all land, buildings and improvements used in connection with the Business listed on the attached Schedule 1.2(k4.8 (the “Real Property Leases”). Except as set forth on the attached Schedule 4.8, with respect to each such lease or sublease: (a) the lease or sublease is legal, valid, binding, enforceable and in full force and effect; (b) the lease or sublease will continue to be legalneither Seller, valid, binding, enforceable and in full force and effect on identical terms following the Closing; (c) no Origen Entity nor, to the Knowledge of Origen and B▇▇▇▇▇▇, no nor any other party to the lease or sublease is in breach or default, and with respect to B▇▇▇▇▇▇ and any Origen Entity, no event has occurred, and with respect to any other party thereto, to the Knowledge of Origen and B▇▇▇▇▇▇, no event has occurred which, with notice or lapse of time, would constitute such a breach or default or permit termination, modification or acceleration under the lease or sublease; (dc) no party to the lease or sublease has repudiated any of its provisions; (ed) there are no disputes, oral agreements or forbearance programs in effect as to the lease or sublease; (fe) Neither B▇▇▇▇▇▇ nor any Origen Entity, as the case may be, Seller has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered all or any portion of its interest in the leasehold or subleasehold; (gf) all facilities leased or subleased under the lease or sublease have been operated and maintained in material compliance accordance with applicable laws, rules and regulations; (hg) all facilities leased or subleased under the lease or sublease are supplied with utilities and other services necessary for the operation of such facilities; and (ih) all facilities leased or subleased under the lease or sublease are in good operating condition, and would not, with ordinary wear and tear, require major repair or replacement during the remainder of the lease term. Except as set forth on the attached Schedule 4.8, no property insurer or similar body has made any recommendations with respect to any parcel of Leased Real Property which have not been complied with in all material respectswith, and all structures on the Leased Real Property meet all qualifications for "highly protected risk" classification for fire insurance purposes. Except as set forth on the attached Schedule 4.8, and except for the properties identified in the attached Schedule 4.8, Seller has never leased or subleased any real property for use in connection with the operation of the Business.

Appears in 1 contract

Sources: Asset Purchase Agreement (Harvard Bioscience Inc)