Common use of Movable Property Clause in Contracts

Movable Property. (a) Schedule 2.1.9(a) hereto contains (i) a list, prepared as of a recent date, of all of the movable property which is used in the operation of the Division or the CEV business, as the case may be, other than (x) any such movable property which is obsolete or has been taken out of service and/or is not necessary to such operations and (y) movable property not comprised within the Transferred Assets but to be made available to the Company or CEVCO after the Closing pursuant to the Related Agreements ("Movable Property"), and (ii) a description of all leases or other agreements under which any Movable Property is leased to Seller or the Company or CEVCO as the case may be. (b) Except as set forth on Schedule 2.1.9(b) hereto or as contemplated by the Related Agreements, (i) all Movable Property which is used in the operation of the Division or the CEV business, as the case may be, will be included in the Transferred Assets or the CEV Transferred Assets, (ii) such Movable Property is in good operating condition and state of repair, ordinary wear and tear and routine and periodic maintenance and repair excepted, and (iii) such Movable Property has been regularly maintained and repaired in accordance with Seller's historical standards and practices. (c) Schedule 2.1.9(c) hereto sets forth (i) the capital expenditure and material maintenance schedules of the Division 42 -19- as of the date hereof and (ii) the status and actual expenditures with respect to such items, as of the date hereof.

Movable Property. (a) Schedule 2.1.9(a2.1.9 (a) hereto contains (i) a list, prepared as of a recent date, of all of the movable property which is used in the operation of the Division or the CEV business, as the case may be, other than (x) any such movable property which is obsolete or has been taken out of service and/or is not necessary to such operations and (y) movable property not comprised within the Transferred Assets but to be made available to the Company or CEVCO after the Closing pursuant to the Related Agreements ("Movable Property"), and (ii) a description of all leases or other agreements under which any Movable Property is leased to Seller or the Company or CEVCO as the case may be. (b) Except as set forth on Schedule 2.1.9(b) hereto or as contemplated by the Related Agreements, (i) all Movable Property which is used in the operation of the Division or the CEV business, as the case may be, will be included in the Transferred Assets or the CEV Transferred Assets, (ii) such Movable Property is in good operating condition and state of repair, ordinary wear and tear and routine and periodic maintenance and repair excepted, and (iii) such Movable Property has been regularly maintained and repaired in accordance with Seller's historical standards and practices. (c) Schedule 2.1.9(c) hereto sets forth (i) the capital expenditure and material maintenance schedules of the Division 42 21 -19- as of the date hereof and (ii) the status and actual expenditures with respect to such items, as of the date hereof.