Common use of Movable Property Clause in Contracts

Movable Property. Each item of material tangible movable property of the Company is in all material respects in good operating condition and repair, ordinary wear and tear excepted, and suitable for continued use in the Company’s business as presently conducted. All leased movable property of the Company is in all material respects in the condition required of such property by the terms of the applicable lease. The Company is in possession of and has good title to, or has valid leasehold interests in or valid rights under contract to use, all tangible movable property used in or reasonably necessary for the conduct of its business free and clear of all liens other than liens permitted by the Investor in writing.

Movable Property. Each item of material tangible movable property of the Company is in all material respects in good operating condition and repair, ordinary wear and tear excepted, and suitable for continued use in the Company’s business as presently conducted. All leased movable property of the Company is in all material respects in the condition required of such property by the terms of the applicable lease. .The Company is Companyis in possession of and has good title to, or has valid leasehold interests in or valid rights under contract to use, all tangible movable property used in or reasonably necessary for the conduct of its business free and clear of all liens other than liens permitted by the Investor theInvestors in writing.