Common use of Facility Lease Clause in Contracts

Facility Lease. The Facility Lease is the only lease or sublease of real property relating to real property used or occupied by Seller in connection with the Business. All payments required to be made by Seller pursuant to the Facility Lease have been duly paid and Seller is not otherwise in default in meeting its obligations under the Facility Lease or in violation of any provision of the Facility Lease.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Objectspace Inc), Asset Purchase Agreement (Objectspace Inc)