A ssets Clause Samples
A ssets. With respect to any person or entity, anything that has tangible or intangible value, including property of all kinds, both real and personal; includes among other things, patents and causes of action that belong to any person, as well as any stock in a corporation and any interest in the estate of a decedent; also, the entire property of a person, association, corporation, or estate that is applicable or subject to the payment of debts. Assets shall include funds or property held in a living trust or any similar entity or interest, where the person has management rights or the ability to apply the assets to the payment of debts. Except, however, Assets shall not include pension plans, 401a plans, 401k plans, IRAs, or other similar retirement accounts, provided that the Applicant is not eligible to take a distribution therefrom without penalty.
A ssets. (i) PsyTech and the PsyTech Subsidiaries are the absolute legal and beneficial owner of, and have good and marketable title to, all of the material property or assets thereof free of all mortgages, liens, charges, pledges, security interests, encumbrances, claims or demands whatsoever, and no other assets or property rights are necessary for the conduct of the business of PsyTech or the PsyTech Subsidiaries as currently conducted. All such assets and property are in good condition and repair (subject to normal wear and tear) and have been maintained, repaired and replaced in a prudent manner and consistent with past practice.
(ii) PsyTech and the PsyTech Subsidiaries do not know of any claim or basis for any claim that might or could adversely affect the right thereof to use, transfer or otherwise exploit such assets or property rights and have no responsibility or obligation to pay any commission, royalty, licence fee or similar payment to any person with respect to the assets or property rights thereof.
(iii) Since December 31, 2020, PsyTech has not purchased, leased or otherwise acquired, or agreed to purchase, lease or otherwise acquire, any properties or material assets.
(iv) Other than the Clinic Acquisitions, PsyTech and the PsyTech Subsidiaries do not have any rights to purchase any assets, properties or undertakings of third parties nor do any such parties have any obligation to sell any interest in any property or material asset under any agreements to purchase or sell that have not closed;
A ssets. 15.1 The Recipient must ensure that the Assets are operated and maintained in good condition for a minimum of 5 years. If the equipment is decommissioned or ceases to operate within that period, the PCC will seek reimbursement on a pro-rata basis.
15.2 Any assets purchased with Grant Funding provided by the PCC by the Recipient from the OPCC will remain the property of OPCC unless formally agreed otherwise in writing.