Common use of to Parent Clause in Contracts

to Parent. The Genex Leases grant leasehold estates free and clear of all Encumbrances (except Permitted Encumbrances) and no Encumbrances (except Permitted Encumbrances) have been granted by or caused by the actions of Genex. The Genex Leases are in full force and effect and are binding and enforceable against each of the parties thereto in accordance with their respective terms subject to (a) bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium and other laws of general application affecting the rights and remedies of creditors and (b) general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law). Genex is not in breach of or default under any Genex Lease, nor has there occurred any event that with the passage of time or the giving of notice or both would constitute a breach or default by Genex under any Genex Lease. Genex has not received any notice of breach or default of any Genex Lease nor, to the Knowledge of Genex, has any other party to a Genex Lease committed a breach or default under any Genex Lease, nor, to the Knowledge of Genex, has there occurred any event that with the passage of time or the giving of notice or both would constitute such a breach or default. Schedule 3.16 correctly identifies each Genex Lease the provisions of which would be materially and adversely affected by the Transaction contemplated hereby and each Genex Lease that requires the consent of any third party in connection with the Transaction contemplated hereby. Except as set forth on Schedule 3.16, no Genex Lease has an unexpired term which including any renewal or extensions of such term provided for in such Genex Lease could exceed ten years.