Common use of Business and Property of Borrowers Clause in Contracts

Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business other than designing, manufacturing and selling fractional horsepower motors and motion products for commercial operations and activities necessary to conduct the foregoing. On the Closing Date, each Borrower will own all the property and possess all of the rights and Consents necessary for the conduct of the business of such Borrower.

Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business other than designingmanufacturing, manufacturing installation and selling fractional horsepower motors distribution of cleaning equipment and motion products for commercial operations systems utilized in the semi-conductor industry and activities necessary to conduct the foregoing. On the Closing Date, each Borrower will own all the property and possess all of the rights and Consents necessary for the conduct of the business of such Borrower.

Business and Property of Borrowers. Upon and after the Closing Date, Borrowers do not propose to engage in any business other than designingthe provision of design and electronic manufacturing services, including a complete range of engineering, pre-manufacturing and selling fractional horsepower motors and motion products for commercial operations post-manufacturing services, and activities necessary to conduct the foregoing. On the Closing Date, each Borrower will own all the property and possess all of the rights and Consents necessary for the conduct of the business of such Borrower.