Common use of OWNERSHIP OF PERSONAL PROPERTY Clause in Contracts

OWNERSHIP OF PERSONAL PROPERTY. (a) Seller is the true and lawful owner of, and has good and marketable title to, or has a valid leasehold interest in or a valid license or right to use, all of the Acquired Assets, free and clear of all Security Interests. Except as set forth on Section 2.8(a) of the Disclosure Schedule, no financing statement under the Uniform Commercial Code with respect to any of the Personal Property is active in any jurisdiction in the United States, and Seller has not signed any such active financing statement or any security agreement authorizing any secured party thereunder to file any such financing statement.

OWNERSHIP OF PERSONAL PROPERTY. (a) The applicable Seller is the true and lawful owner of, and has good and marketable title to, or has a valid leasehold interest in or a valid license or right to use, all of the Acquired AssetsPersonal Property purported to be owned by it, free and clear of all Security Interests. Except as set forth on Section 2.8(a) of the Disclosure Schedule, no financing statement under the Uniform Commercial Code with respect to any of the Personal Property is active in any jurisdiction in the United Statesjurisdiction, and Seller none of the Sellers has not signed any such active financing statement or any security agreement authorizing any secured party thereunder to file any such financing statement.