Common use of Leased Clause in Contracts

Leased. Schedule 4.8(b) contains a description of all Real Property Leases to which the Company or any Subsidiary is a party (the "Real Property Leases"). Each of the Real Property Leases is valid, binding and enforceable in accordance with its terms (except that enforceability thereof may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other similar laws affecting creditors' rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing) and is in full force and effect and there have been no breaches or defaults thereunder. None of the Seller or the Company or any Subsidiary have received any notice of any appropriation, condemnation or like proceeding, or of any violation of any applicable zoning law, regulation or other law, order, regulation or requirement relating to or affecting any Leased Real Property. To the best knowledge of the Seller, there are no material physical, structural or mechanical defects in any material improvements on any of Leased Real Property. Except as disclosed on Schedule 4.8(b), none of the sale of the Shares the execution, delivery or performance of this Agreement or any Seller Ancillary Document or the consummation of the transactions contemplated herein or therein will, with respect to any such Real Property Lease, (i) permit the landlord to accelerate the rent or cause any material lease terms to be renegotiated, (ii) constitute a material default thereunder, or (iii) require notice on the consent of the landlord or any third party, except for the Required Consents.