Common use of Title to and Condition of Property Clause in Contracts

Title to and Condition of Property. (a) The Company has good and marketable title to all of its tangible personal property and assets (other than properties and assets leased or licensed from others) free and clear of all Liens, except Permitted Liens. Each item of tangible personal property is in good repair and good operating condition, ordinary wear and tear excepted, and is suitable for use in the ordinary course of business. (b) The Company has not leases, subleases or other agreements under which the Company is lessor or lessee of any real property.