Title to and Condition of Property. The Borrower has good and marketable title to its properties and assets free and clear of Liens except for Permitted Liens. The execution, delivery and performance of this Agreement, the Notes or any other instrument or agreement required to be delivered by Borrower hereunder will not result in the creation of any Lien except as provided for herein. All of the facilities and properties of Borrower are in good operating condition and repair except for facilities and properties (i) which are obsolete or otherwise not required for the conduct of its business, or (ii) which are being repaired in the ordinary course business.
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Sources: Credit Agreement (Amtran Inc), Credit Agreement (Amtran Inc)
Title to and Condition of Property. The Borrower has good and marketable title to all of its properties and assets free and clear of all Liens except for Permitted Liens. The execution, delivery and performance of this Agreement, the Notes or and any other instrument or agreement required to be delivered by the Borrower hereunder will not result in the creation of any Lien except as provided for herein. All of the facilities and properties of the Borrower are in good operating condition and repair except for facilities and properties (i) which are obsolete or otherwise not required for the conduct of its business, or (ii) which are being repaired in the ordinary course of business.
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