Properties Generally Sample Clauses
The "Properties Generally" clause defines the general rules and expectations regarding the properties involved in an agreement. It typically outlines the condition, ownership, and status of the properties at the time of the contract, and may specify the parties' responsibilities for maintaining or transferring the properties. This clause ensures that both parties have a clear understanding of what is included in the transaction and helps prevent disputes over property condition or ownership during or after the agreement.
Properties Generally. Each of the Company and its Restricted Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property material to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes.
Properties Generally. Each of the Company and its Restricted Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property material to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes. No mortgage or deed of trust encumbers improved real property that is located in an area that has been identified by the Secretary of Housing and Urban Development as an area having special flood hazards within the meaning of the National Flood Insurance Act of 1968 unless flood insurance available under such Act has been obtained in accordance with Section 6.05.