Common use of Title to Properties Liens Real Property Clause in Contracts

Title to Properties Liens Real Property. A. Title to Properties; Liens. Holdings and its Subsidiaries have (i) good, sufficient and legal title to (in the case of fee interests in real property), (ii) valid leasehold interests in (in the case of leasehold interests in real or personal property), (iii) valid licenses in (in the case of licensed intangible properties), or (iv) good title to (in the case of all other personal property), all of their respective properties and assets reflected in the most recent financial statements referred to in subsection 4.3 or in the most recent financial statements delivered pursuant to subsection 5.1, in each case subject to Permitted Encumbrances and Liens permitted under subsection 6.6 and except for assets disposed of since the date of such financial statements in the ordinary course of business or as otherwise permitted under subsection 6.7. Except as otherwise permitted by this Agreement, all such properties and assets are free and clear of Liens.

Title to Properties Liens Real Property. A. Title to PropertiesTITLE TO PROPERTIES; LiensLIENS. Holdings Upon consummation of the Lil' Champ Acquisition, Company and its Subsidiaries will have (i) good, sufficient and legal title to (in the case of fee interests in real property), (ii) valid leasehold interests in (in the case of leasehold interests in real or personal property), or (iii) valid licenses in (in the case of licensed intangible properties), or (iv) good title to (in the case of all other personal property), all of their respective properties and assets reflected in the most recent financial statements referred to in subsection 4.3 5.3 or in the most recent financial statements delivered pursuant to subsection 5.16.1, in each case subject to Permitted Encumbrances and Liens permitted under subsection 6.6 and except for assets disposed of since the date of such financial statements in the ordinary course of business or as otherwise permitted under subsection 6.77.7. Except as otherwise permitted by this Agreement, all such properties and assets are free and clear of Liens.