Personal Property and Equipment. Seller is the owner of the Equipment free and clear of all liens and encumbrances other than those to be released at Closing. Other than in connection with normal and customary prudent operations, Seller has not removed any personal property, equipment, or fixtures from the Xxxxx, unless it has been replaced with personal property, equipment, or fixtures of similar grade and utility. Unless removed, repaired or replaced (a) with personal property, equipment, and fixtures of similar grade and utility or (b) in connection with normal and customary prudent operations, the personal property, equipment, and fixtures currently attendant to the Xxxxx was the equipment historically used by Seller on the Xxxxx to produce the Hydrocarbons prior to the execution of this Agreement. All Xxxxx, wellhead equipment, pumping units, flowlines, tanks, buildings, injection facilities, saltwater disposal facilities, compression facilities, gathering systems, fixtures and equipment that are necessary to conduct normal operations on the Assets are in good working condition, reasonable wear and tear excepted, and are being maintained in a state adequate to conduct normal operations, except for such conditions which, individually or in the aggregate, would not be reasonably expected to have a Material Adverse Effect.
Personal Property and Equipment. Seller is the owner of the Equipment free and clear of all liens and encumbrances other than those to be released at Closing. Other than in connection with normal and customary prudent operations, Seller has not removed any personal property, equipment, or fixtures from the Xxxxx, unless it has been replaced with personal property, equipment, or fixtures of similar grade and utility. Unless removed, repaired, or replaced (a) with personal property, equipment, and fixtures of similar grade and utility or (b) in connection with normal and customary prudent operations, the personal property, equipment, and fixtures currently attendant to the Xxxxx was the equipment historically used by Seller on the Xxxxx to produce the Hydrocarbons prior to the execution of this Agreement.
Personal Property and Equipment. PHH may supply any and all of its own personal property reasonably necessary to its business. Further, PHH will install telephone lines for its telephones, computers and facsimile machines and be responsible for the payment thereof.
Personal Property and Equipment. Except for any equipment that is leased, Seller is the owner of the equipment included in the Properties not constituting Leases or Xxxxx, free and clear of all liens and encumbrances other than those to be released at Closing and Permitted Encumbrances.
Personal Property and Equipment. During the pendency of this Contract, Seller agrees not to transfer to any third party or remove any personal property or equipment owned by Seller and material to the operation or maintenance of the Premises and located in the Premises unless such personal property or equipment is obsolete or replaced with a substantially similar item.
Personal Property and Equipment. Seller has not removed any personal property, equipment and fixtures from the Xxxxx, unless it has been replaced with personal property, equipment and fixtures of similar grade and utility. Unless removed, repaired or replaced with personal property, equipment and fixtures or similar grade and utility, the personal property, equipment and fixtures currently attendant to the Xxxxx was the equipment historically used on the Xxxxx to produce the Hydrocarbons prior to the execution of this Agreement.
Personal Property and Equipment. All estate, right, title and interest of the Grantor in, to, under or derived from all component parts of the Improvements, fixtures, chattels, “equipment” (as defined in the UCC), and articles of personal property owned by the Grantor or in which the Grantor has or shall acquire an interest, wherever situated, and now or hereafter located on, attached to or contained in the Land or the Improvements, whether or not attached thereto and which are not real property under applicable law, including all partitions, furniture and furnishings, heating, lighting, plumbing, ventilating, air conditioning, refrigerating, gas, steam, electrical, incinerating and compacting plants, systems, fixtures and equipment, elevators, call systems, switchboards, sprinkler systems and other fire prevention, alarm and extinguishing apparatus and materials, motors, machinery, pipes, conduits, dynamos, engines, compressors, generators, boilers, stokers, furnaces, pumps, trunks, ducts, appliances, equipment, utensils, tools, implements, fittings and fixtures (all of the foregoing being hereinafter collectively called the “Equipment”; the Land with the Improvements thereon and the Equipment therein being collectively called the “Property”). If the Lien of this Deed of Trust is subject to a security interest covering any property described in this GRANTING CLAUSE II, then all of the right, title and interest of the Grantor in and to any and all such property is hereby assigned to the Beneficiary, together with the benefits of all deposits and payments now or hereafter made thereon by or on behalf of the Grantor, and subject to all of the liens of, and terms and conditions applicable to, such security interest.
Personal Property and Equipment. It is understood and agreed that the items identified on the inventory, attached hereto as Exhibit B Lessee-provided Inventory are personal property belonging to Lessee. Lessee shall be responsible for the maintenance and repair of such items as provided herein.
Personal Property and Equipment. Seller, and to the knowledge of Seller, the operator of any Assets Seller does not operate, has maintained the Xxxxx in a state of repair so as to be reasonably adequate for normal operations
Personal Property and Equipment. After the expiration of the Due Diligence Period, Seller agrees not to transfer to any third party or remove any Personal Property or Equipment owned by Seller and material to the operation or maintenance of the Premises and located in the Premises, unless such Personal Property or equipment is obsolete or replaced with a substantially similar item.
