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These excerpts taken from the DUCK 10-K filed Apr 29, 2008. No Default. Neither
»
the
Borrower nor any Subsidiary is in default under or with respect to, or party to,
any Material Contract or any Material Indebtedness. No Default has
occurred and is continuing or would result from the consummation of the
transactions contemplated by this Agreement or any other Loan
Document.
5.08 Ownership
of Property; Liens.
»
(a) Each of
the Borrower and each Subsidiary thereof has good record and marketable title in
fee simple to or valid leasehold interests in, all real property necessary or
used in the ordinary conduct of its business. Each of the Borrower
and each Subsidiary has good and marketable title to, valid leasehold interests
in, or valid licenses to use all personal property and assets material to the
ordinary conduct of its business.
(b) Schedule 5.08(b)(1)
sets forth the address (including street address, county and state) of all Real
Estate that is owned by the Borrower, together with a list of the holders of any
mortgage or other Lien thereon as of the Closing Date. The Borrower
and each of its Subsidiaries has good, marketable and insurable fee simple title
to the real property owned by the Borrower or such Subsidiary, free and clear of
all Liens, other than Permitted Encumbrances. Schedule 5.08(b)(2)
sets forth the address (including street address, county and state) of all
Leases of the Borrower, together with a list of the lessor and its contact
information with respect to each such Lease as of the Closing
Date. Each of such Leases is in full force and effect and the
Borrower is not in default of the terms thereof.
(c) Schedule 7.01 sets
forth a complete and accurate list of all Liens on the property or assets of the
Borrower and each of its Subsidiaries, showing as of the date hereof the
lienholder thereof, the principal amount of the obligations secured thereby and
the property or assets of the Borrower or such Subsidiary subject
thereto. The property of the Borrower and each of its Subsidiaries is
subject to no Liens, other than Liens set forth on Schedule 7.01, and
Permitted Encumbrances.
(d) Schedule 7.02 sets
forth a complete and accurate list of all Investments held by the Borrower or
any Subsidiary of the Borrower on the date hereof, showing as of the date hereof
the amount, obligor or issuer and maturity, if any, thereof.
5.09 No Default. Neither » the Borrower nor any Subsidiary is in default under or with respect to, or party to, any Material Contract or any Material Indebtedness. No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document. 5.08 Ownership of Property; Liens. » (a) Each of the Borrower and each Subsidiary thereof has good record and marketable title in fee simple to or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business. Each of the Borrower and each Subsidiary has good and marketable title to, valid leasehold interests in, or valid licenses to use all personal property and assets material to the ordinary conduct of its business. (b) Schedule 5.08(b)(1) sets forth the address (including street address, county and state) of all Real Estate that is owned by the Borrower, together with a list of the holders of any mortgage or other Lien thereon as of the Closing Date. The Borrower and each of its Subsidiaries has good, marketable and insurable fee simple title to the real property owned by the Borrower or such Subsidiary, free and clear of all Liens, other than Permitted Encumbrances. Schedule 5.08(b)(2) sets forth the address (including street address, county and state) of all Leases of the Borrower, together with a list of the lessor and its contact information with respect to each such Lease as of the Closing Date. Each of such Leases is in full force and effect and the Borrower is not in default of the terms thereof. (c) Schedule 7.01 sets forth a complete and accurate list of all Liens on the property or assets of the Borrower and each of its Subsidiaries, showing as of the date hereof the lienholder thereof, the principal amount of the obligations secured thereby and the property or assets of the Borrower or such Subsidiary subject thereto. The property of the Borrower and each of its Subsidiaries is subject to no Liens, other than Liens set forth on Schedule 7.01, and Permitted Encumbrances. (d) Schedule 7.02 sets forth a complete and accurate list of all Investments held by the Borrower or any Subsidiary of the Borrower on the date hereof, showing as of the date hereof the amount, obligor or issuer and maturity, if any, thereof. 5.09 | EXCERPTS ON THIS PAGE:
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