BLUD » Topics » Section 3.16 Title to Properties; Adequacy.

This excerpt taken from the BLUD 8-K filed Mar 17, 2008.

Section 3.16         Title to Properties; Adequacy.

 

(a)    Section 3.16(a) of the Disclosure Letter lists all of the leases (the “Leases”) for real or personal property to which Matrix is a party and describes the leased assets.  Matrix does not own any real property.

 

(b)    Matrix has good and marketable title to or valid leasehold interests in all properties and assets that are material to the conduct of the Business of Matrix, including those reflected in the 2006 Balance Sheet (or acquired after the date of the 2006 Balance Sheet by Matrix), or not reflected on the 2006 Balance Sheet but used by Matrix, except for assets and properties sold, consumed or otherwise disposed of in the ordinary course of business since January 1, 2007 (which, to the extent material, are disclosed in Section 3.16(b) of the Disclosure Letter) (collectively, the “Properties”), free and clear of any title defects or Liens, except Liens for current ad valorem Taxes and assessments not in default.

 

25



 

(c)    No Person other than Matrix is currently entitled to possession of any of the Properties, whether owned or leased by Matrix.  The buildings, structures and improvements owned or leased by Matrix conform in all material respects to all applicable Laws, including zoning regulations, none of which would upon consummation of the transactions contemplated hereby materially adversely interfere with the use of such Properties, buildings, structures or improvements for the purposes for which they are now utilized.  Except as set forth in Section 3.16(c) of the Disclosure Letter, (i) each of the Properties is adequate in all material respects for the operations for which it is being used by Matrix, (ii) each of the Properties is in reasonably good repair and operating condition, normal wear and tear excepted, and (iii) the Properties constitute all of the properties that Matrix uses in connection with the operation of its Business.

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki