Common use of Owned Clause in Contracts

Owned. Schedule 4.8(a) contains a description of all Owned Real Property having a value in excess of $50,000. True, correct and complete copies of (i) deeds, insurance policies and surveys related to the Owned Real Property and (ii) all documents evidencing any liens, charges, equitable interests, options, rights of first refusal, encumbrances, claims, security interests, mortgages or pledges of any nature upon the Owned Real Property shall have been delivered to the Buyer prior to the Closing. None of the liens, charges, equitable interests, options, rights of first refusal, encumbrances, claims, security interests, mortgages or pledges of any nature upon the Owned Real Property secure obligations other than those of the Company or a Subsidiary. There are no liens, charges, equitable interests, options, rights of first refusal, encumbrances, claims, security interests, mortgages or pledges of any nature upon the Owned Real Property which are not registered in the applicable land register. None of the Seller or the Company or any Subsidiary has 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 Owned Real Property. To the best knowledge of the Seller, there are no material physical, structural or mechanical defects in any improvements on any of the Owned Real Property.

Owned. Schedule 4.8(a) contains a description of all Owned Real Property having a value in excess of $50,000DM 75,000. True, correct and complete copies of (i) deeds, insurance policies certified land register excerpts and surveys related to of the Owned Real Property and (ii) all documents evidencing any liens, charges, equitable interests, options, rights of first refusal, encumbrances, claims, security interests, mortgages or pledges of any nature upon the Owned Real Property shall have been delivered to the Buyer prior to the Closingare contained in Delivered Document 4.8(a). None of the liens, charges, equitable interests, options, rights of first refusal, encumbrances, claims, security interests, mortgages or pledges of any nature upon the Owned Real Property secure obligations other than those of the Company or a Subsidiarythe Subsidiaries. There are no liens, charges, equitable interests, options, rights of first refusal, encumbrances, claims, security interests, mortgages or pledges of any nature upon the Owned Real Property which are not registered in the applicable land register. None of the Seller or the Company or any Subsidiary the Subsidiaries has 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 Owned 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 the Owned Real Property.