Movable Fixed Assets Sample Clauses
The 'Movable Fixed Assets' clause defines the treatment and management of tangible assets that, while classified as fixed assets, are not permanently attached to a specific location and can be relocated. This clause typically outlines which assets fall under this category—such as machinery, vehicles, or equipment—and may specify responsibilities for maintenance, insurance, or transfer procedures in the event of relocation or sale. Its core function is to clarify ownership, usage rights, and obligations regarding these assets, thereby preventing disputes and ensuring smooth operations when assets are moved or transferred.
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Movable Fixed Assets. The movable fixed assets comprising all machinery, equipment and furniture and all other movable fixed assets relating to the Target Business owned by the Business Sellers on the Completion Date.
Movable Fixed Assets. Except as disclosed in Schedule 6.2.7, all of the Company’s movable fixed assets (bewegliches Anlagevermögen) which are reflected in the 2006 Company’s Financial Statements with a book value of more than EUR 50,000.00 (in words: fifty thousand Euro) in the individual case (the “Movables”) are either owned by the Company or – where so marked in Schedule 6.2.7 – leased or licensed by the Company on the basis of valid leasehold interests or licenses in such Movables, except where the failure to own or have such valid leasehold interests or licenses would not have a material impact on the business of the Company. No Movables are encumbered with any liens, pledges or other encumbrances in rem in favor of any third parties (other than the Seller’s Group), except for
(1) customary retention of title rights of suppliers, liens, pledges or other security rights in favor of landlords and lessors created in the course of the Company’s ordinary business;
(2) liens, pledges or other security rights in favor of suppliers, mechanics, workmen or carriers identified in Schedule 6.2.7;
(3) security rights granted to banks and other financial institutions over cash and other assets deposited with such banks or financial institutions identified in Schedule 6.2.7;
(4) encumbrances or rights of third parties (other than the Seller) existing under mandatory statutory law, including pledges and other security rights in favor of governmental entities, but excluding pledges and other security rights in favor of Tax Authorities;
(5) the liens, pledges or other encumbrances in rem disclosed in Schedule 6.2.