Common use of Assets and Property Clause in Contracts

Assets and Property. (a) Except for assets disposed of in the Ordinary Course since the date of CCCI Latest Balance Sheet, CCCI owns good and valid title to, or hold pursuant to valid and enforceable leases, all of the personal property shown to be owned or leased by CCCI on the CCCI Latest Balance Sheet, free and clear of all Liens (other than Permitted Liens). (b) The tangible assets used in the operation of the Business (i) are adequate for the uses to which they are being put, and (ii) are in good operating condition and repair, subject to normal wear and tear and ordinary, routine maintenance and repair that are not material in cost or nature. (c) CCCI has made available to the Company (i) the addresses of each parcel of real property that CCCI leases, subleases, or licenses (each a “CCCI Leased Property”), and (ii) copies of all Contracts under which CCCI leases, subleases, or licenses for such leased property (each a “CCCI Real Property Lease”). Each CCCI Real Property Lease is a valid and binding obligation of CCCI, is in full force and effect, and is enforceable against CCCI, subject to the Enforceability Exceptions. CCCI is not in material breach, violation, or default under any CCCI Real Property Lease. CCCI has not leased or otherwise granted to any Person the right to use or occupy any CCCI Leased Property or any portion thereof. (d) CCCI does not own any parcel of real property and is not party to any Contract or option to purchase any real property.