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

Title to and Condition of Property. (i) The Issuer has: (A) good and marketable title free and clear of all Liens to all assets, movable and immovable (other than the Project Land) used or proposed to be used in relation to the Project as reflected in the Issuer's most recent balance sheet included in the consolidated financial statements (except assets sold or otherwise disposed of since such date in the ordinary course of business); and (B) with respect to all its leased assets pertaining to the Project (other than the Project Land), valid leasehold interests therein free and clear of all Liens. (ii) The assets of Issuer that are used in the Issuer Operations are in good operating condition and repair, subject to normal wear and tear not caused by neglect, and are adequate and suitable for the purposes for which they are currently being used.