Properties; Assets. The Company owns its property and assets free and clear of all mortgages, liens, loans and encumbrances, except such encumbrances and liens which arise in the ordinary course of business and do not materially impair the Company's ownership or use of such property or assets. With respect to the property and assets it leases, the Company is in compliance with such leases, and, to the best of its knowledge, holds a valid leasehold interest free of any liens, claims or encumbrances.
Appears in 3 contracts
Sources: Series D Preferred Stock Purchase Agreement (Usa Net Inc), Series C Preferred Stock Purchase Agreement (Usa Net Inc), Series B Preferred Stock Purchase Agreement (Usa Net Inc)