Common use of Tangible Properties Clause in Contracts

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