Common use of ASSETS OWNED Clause in Contracts

ASSETS OWNED. Except for the Retained Assets, the Purchased Assets comprise all of those assets which are used or useful in the operation of the Business in the ordinary course as presently conducted.

ASSETS OWNED. Except for the Retained Assets, the Purchased Assets comprise all of those assets which are used or useful in the operation of the Business in the ordinary course as presently conducted. The Purchased Assets include all assets reflected on the Adjusted Balance Sheet other than the Retained Assets and those assets disposed of in the ordinary course of business consistent with prior practice.