Common use of Tangible Properties Clause in Contracts

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 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 Company (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 the Company 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 MILNthe Company, all leases, conditional sale contracts, franchises or licenses pursuant to which MILN the Company 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 MILNthe Company's possession and use of such property has not been disturbed and no claim has been asserted against MILN the Company 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 Company's business due to the condition of any of the Tangible Personal Property.

Tangible Properties. Schedule 2.21 2.17 contains a true and complete list of all tangible personal property, including, without limitation, furniture, fixtures, equipment, computer hardware and software (but excluding Vehicles) property owned by or leased to MILN the Seller that is used in, proposed to be used in, or otherwise allocated to the Business as it is currently conducted or proposed to be conducted (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 The Seller has good and marketable title free and clear of all Encumbrances claims to the Tangible Personal PropertyProperty listed as owned by the Seller, other than liens for taxes not yet due and payable. With respect to any Tangible Personal Property leased by MILNthe Seller as lessee, all leases, conditional sale contracts, franchises or licenses pursuant to which MILN the Seller 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. The Seller's possession and use of such property has not been disturbed and no claim has been asserted against MILN the Seller 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 has been properly maintained and repaired and each item of Tangible Personal Property, whether owned or leased, is in good operating conditioncondition and repair and has been properly maintained, reasonable ordinary 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.