Common use of Tangible Personal Assets Clause in Contracts

Tangible Personal Assets. (a) The Companies have good title to, or a valid interest in, all of their tangible personal assets, free and clear of all Liens, other than (i) Permitted Liens or (ii) Liens that, individually or in the aggregate, do not materially interfere with the ability of the Companies thereof to conduct their business as currently conducted and do not adversely affect the value of, or the ability to sell, such personal properties and assets. (b) The Companies’ tangible personal assets are in good operating condition, working order and repair, subject to ordinary wear and tear, free from defects (other than defects that do not interfere with the continued use thereof in the conduct of normal operations) and are suitable for the purposes for which they are currently being used.

Tangible Personal Assets. (a) The Each of the Companies have has good title to, or a valid interest in, all of their its tangible personal assets, free and clear of all Liens, other than (i) Permitted Liens or (ii) Liens that, individually or in the aggregate, do not materially interfere with the ability of either of the Companies thereof to conduct their its business as currently conducted and do not adversely affect the value of, or the ability to sell, such personal properties and assets. (b) The Each of the Companies’ tangible personal assets are in good operating condition, working order and repair, subject to ordinary wear and tear, free from defects (other than defects that do not interfere with the continued use thereof in the conduct of normal operations) and are suitable for the purposes for which they are currently being used.