Common use of PPE Clause in Contracts

PPE. The facilities (including all buildings, structures, and improvements) and each material item of equipment used by Clorox or one of the Clorox Entities in connection with the Transferred Businesses, in each case that constitute Business PP&E, taken as a whole, are in all material respects (a) in good operating condition and repair, ordinary wear and tear excepted, (b) structurally sound and free of defects and (c) suitable in all material respects for their current use and operation.

Appears in 3 contracts

Sources: Share Exchange Agreement (Clorox Co /De/), Share Exchange Agreement (Clorox Co /De/), Share Exchange Agreement (Henkel Kgaa /New/)