Tangible Properties Sample Clauses
Tangible Properties. (i) First Midlothian neither owns nor leases any tangible properties, real and personal.
(ii) SCHEDULE 1(k) describes all tangible properties, real and personal (showing the gross book values, accumulated depreciation and net book values), owned or leased by First Bank as of the date of the First Midlothian Financial Statements, having an original cost in excess of $25,000 (exclusive of supplies consumable in the ordinary course of business, which need not be scheduled). First Bank has good and indefeasible fee simple title to all material real estate owned by it, has a valid leasehold interest in each of the leased properties and owns outright all other assets and properties, whether real, personal or mixed, tangible or intangible, described in SCHEDULE 1(k) or reflected in the First Midlothian Financial Statements or acquired after said date (other than properties sold, and supplies consumed, by First Bank in the ordinary course of its banking business consistent with its past practice), free and clear of all liens, pledges, mortgages, security interests, charges, burdens, encumbrances, options and adverse claims ("Burdens"), except in each case as set forth in SCHEDULE 1(k) and except for liens for current taxes not yet due and payable and such imperfections of title, covenants and easements as do not materially detract from or interfere with the present use of the asset or property subject thereto or affected thereby. Since the date of the First Midlothian Financial Statements, First Bank has not satisfied or discharged, or become obligated to satisfy or discharge, any Burden affecting First Bank or any asset of First Bank, except in the ordinary course of First Bank's banking business consistent with its past practice. The operation of the properties of First Bank and the business of First Bank in the manner in which they are now operated does not violate any zoning ordinances or municipal regulations in such a way as could, if such ordinances or regulations were enforced, result in any material impairment of the uses of the respective properties for the purposes for which they are now operated, and no covenants, easements, rights-of-way or regulations of record materially impair such uses.
Tangible Properties. Each of the Company and its ------------------- Subsidiaries has good and marketable title to, or leases with respect to, all of its owned or leased tangible personal property which is necessary for the conduct of its business in the ordinary course consistent with past practices and is reflected in the Balance Sheet, except as indicated in the notes thereto, and no such personal property is subject to any Lien (except for Liens reflected in the Balance Sheet and Permitted Liens). Such tangible personal property has been maintained by the Company or its Subsidiary, as the case may be, in a manner consistent with past practices.
Tangible Properties. (a) Except as set forth in Section 2.16(a) of the Company Disclosure Schedule, the Company and the Company Subsidiary owns fee simple title to or has a valid leasehold interest in each of the real properties at which the Company or the Company Subsidiary conducts operations (the “Company Properties”), free and clear of any Liens, and the Company Properties are not subject to any easements, rights of way, covenants, conditions, restrictions or other written agreements, Laws affecting building use or occupancy, or reservations of an interest in title (collectively, “Company Property Restrictions”), except for (i) the matters set forth in Section 2.16(a) of the Company Disclosure Schedule, (ii) Company Property Restrictions imposed or promulgated by law or any governmental body or authority with respect to real property, including zoning regulations, that do not materially and adversely affect the current use of the property, (iii) Liens and Company Property Restrictions imposed on the fee title of any property leased by the Company or the Company Subsidiary, (iv) Liens and Company Property Restrictions disclosed on existing title policies or reports or surveys that have been provided to Parent prior to the date of this Agreement and (v) mechanics’, carriers’, suppliers’, workmen’s or repairmen’s liens and other Company Property Restrictions, if any, which, individually or in the aggregate, are not material in amount, do not materially detract from the value of or materially interfere with the present use of any of the Company Properties subject thereto or affected thereby, and do not otherwise materially impair business operations conducted by the Company and the Company Subsidiary and which have arisen or been incurred only in the ordinary course of business or are set forth in the Company Financial Statements. Except as set forth in Section 2.16(a) of the Company Disclosure Schedule or as would not, individually Table of Contents or in the aggregate, reasonably be expected to exceed One Hundred Thousand Dollars ($100,000.00), (A) no written notice of any violation of any Law affecting any portion of any of the Company Properties has been received by the Company or the Company Subsidiary from any Governmental Entity; (B) there are no structural defects relating to any of the Company Properties; (C) there is no Company Property whose building systems are not in working order in any respect; and (D) there is no physical damage for which the Company is respons...
Tangible Properties. Seller has made available for review by Buyer maps of the network which is owned or leased by the Company or the Subsidiaries and each segment thereof, which maps (“Network Maps”) are described in Schedule 4.24(a). Schedule 4.24(a) describes the approximate number of route miles, fiber strand miles and manholes owned by the Company and the Subsidiaries on a combined basis and the approximate number of fiber strand miles and manholes that the Company and the Subsidiaries on a combined basis lease, license or, pursuant to IRUs, use (collectively, the "Network Facilities"). Subject to the last sentence of Section 11.2(b) below, the Network Facilities owned by the Company and the Subsidiaries are in such operating condition and state of repair (giving due account to the age and length of use of the same, ordinary wear and tear excepted) as is reasonably required to conduct the business as it is currently conducted by the Company and the Subsidiaries and provide the services currently provided by the Company and the Subsidiaries. The Network Facilities are sufficient to conduct the business as it is currently conducted by the Company and the Subsidiaries and provide the services currently provided by the Company and the Subsidiaries. Except as shown on Schedule 4.24(a), the Company and each Subsidiary has good and marketable title free and clear of all Encumbrances to the Network Facilities owned by it. With respect to Network Facilities leased by the Company and each Subsidiary as lessee, all leases, conditional sale contracts, franchises or licenses pursuant to which the Company and each Subsidiary may hold or use (or permit others to hold or use) such Network Facilities are valid and in full force and effect, and there is not under any of such instruments any existing default or event of default or event which with notice or lapse of time or both would constitute such a default.
Tangible Properties. 16 SECTION 2.18
Tangible Properties. Seller has good and valid title to, or a valid leasehold interest in, the material Personal Property, free and clear of all Liens (except Permitted Liens). The material Personal Property is in good operating condition and repair, ordinary wear and tear excepted.
Tangible Properties. (a) Section 3.11(a) of the Company Disclosure Schedule sets forth a true, correct and complete list of all real property owned by Company or any Company Subsidiary. (b) Section 3.11(b) of the Company Disclosure Schedule sets forth a true, correct and complete schedule of all leases, subleases, licenses and other agreements under which each of Company and the Company Subsidiaries uses or occupies or has the right to use or occupy, now or in the future, real property (the "Leases"). Each of the Leases is valid, binding and in full force and effect in all material respects according to its terms. Company and each Company Subsidiary has performed all material obligations required to be performed by it to date under each of the Leases. No event has occurred and no condition exists that constitutes or, after notice or lapse of time or both, would constitute, a material default or termination event on the part of Company or any Company Subsidiary under any of the Leases. Company and the Company Subsidiaries have paid all rents and other charges to the extent due under the Leases. (c) Each of Company and the Company Subsidiaries, has good title to, valid leasehold interests in or otherwise legally enforceable rights to use all of the real property, personal property and other assets (tangible or intangible), used, occupied and operated or held for use by it in connection with its business as presently conducted in each case, free and clear of any Lien, except for (i) statutory Liens for amounts not yet delinquent, and (ii) Liens incurred in the Ordinary Course of Business that, individually and in the aggregate, are not material in character, amount or extent, do not materially detract from the value and do not materially interfere with the present use, occupancy or operation of, any material asset.
Tangible Properties. Schedule 2.22 contains a true and complete ------------------- ------------- list of all tangible personal property owned by or leased to the Companies (the "Tangible Personal Property"), by location. Each item of the Companies' tangible personal property which has a value in excess of $1,000 is included on such list. Except as shown on Schedule 2.22, all of the Companies have good and ------------- marketable title free and clear of all Claims to the Tangible Personal Property listed as owned by the Companies. With respect to Tangible Personal Property leased by the Companies as lessee, all leases, conditional sale contracts, franchises or licenses pursuant to which the Companies may hold or use (or permit others to hold or use) such Tangible Personal Property are valid and in full force and effect, and there is not under any of such instruments any existing default or event of default or event which with notice or lapse of time or both would constitute such a default. The Companies' possession and use of such property has not been disturbed and no claim has been asserted against any of the Companies adverse to their rights in such leasehold interests. The Tangible Personal Property is adequate and usable for the purposes for which it is currently used and has been properly maintained and repaired and each item of Tangible Personal Property, whether owned or leased, is in good operating condition and repair and has been properly maintained. During the past three (3) years, there has not been any interruption of the operations of the Companies' businesses due to the condition of any of the Tangible Personal Property other than in the ordinary course of business consistent with past practice.
Tangible Properties. Schedule 2.21 contains a true and complete list of all tangible personal property, including, without limitation, furniture, fixtures, equipment, computer hardware and software (but excluding Vehicles) owned by or leased to MILN (the "Tangible Personal Property"), other than minor items valued at less than $100. Except with respect to Tangible Personal Property listed as being leased on Schedule 2.21, MILN has good and marketable title free and clear of all Encumbrances to the Tangible Personal Property. With respect to any Tangible Personal Property leased by MILN, all leases, conditional sale contracts, franchises or licenses pursuant to which MILN may hold or use (or permit others to hold or use) such Tangible Personal Property are valid and in full force and effect, and there is not under any of such instruments any existing default or event of default or event which with notice or lapse of time or both would constitute such a default; and MILN's possession and use of such property has not been disturbed and no claim has been asserted against MILN adverse to its rights in such leasehold interests. The Tangible Personal Property constitutes all tangible personal property necessary to conduct the Business in the manner in which it has been and is being conducted. All Tangible Personal Property is adequate and usable for the purposes for which it is currently used and each item of Tangible Personal Property, whether owned or leased, is in good operating condition, reasonable wear and tear excepted, and has been properly maintained and repaired. During the past three (3) years, there has not been any material interruption of the operations of the Business due to the condition of any of the Tangible Personal Property.
Tangible Properties. Schedule 1.01(b) contains a true and complete list of all tangible personal property owned by or leased to PerSeptive and used principally in the Drug Discovery Program (the "Tangible Personal Property") which is being transferred to ChemGenics pursuant to this Agreement. Such Tangible Personal Property constitutes all of the instruments and other assets having an original estimated list value in excess of $10,000, and substantially all of the other Tangible Personal Property used by PerSeptive principally in the Drug Discovery Program (including, without limitation, all of the tangible assets utilized by the Employees in the Drug Discovery Program). Except as shown on Schedule 1.01(b), PerSeptive has good and marketable title free and clear of all Claims to the Tangible Personal