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RVBD » Topics » (r) the Company has not agreed or legally committed to take any of the actions referred to in clauses (c) through (q) above. 2.7 Title to Assets.This excerpt taken from the RVBD 8-K filed Feb 20, 2009. (r) the Company has not agreed or legally committed to take any of the actions referred to in clauses (c) through (q) above. 2.7 Title to Assets. (a) Good Title. The Company owns, and has good and valid title to, all assets purported to be owned by it, including: (i) all assets reflected on the balance sheet included in the Company Financial Statements; (ii) all assets referred to in Part 2.10(a) of the Disclosure Schedule and all of the rights of the Company under the Contracts identified in Part 2.11(a) of the Disclosure Schedule; and (iii) all other assets reflected in the books and records of the Company as being owned by the Company. All of said assets are owned by the Company free and clear of any liens or other Encumbrances, except for: (A) any lien for current Taxes not yet due and payable; and (B) minor liens that have arisen in the ordinary course of business and that do not (in any case or in the aggregate) materially detract from the value of the assets subject thereto or materially impair the operations of the Company. (b) Leased Assets. Part 2.7(b) of the Disclosure Schedule identifies all tangible assets that are material to the business of the Company and that are being leased to the Company for which the annual rental payment for each such asset exceeds $25,000. 2.8 Bank Accounts. Part 2.8 of the Disclosure Schedule provides the following information with respect to each account maintained by or for the benefit of the Company at any bank or other financial institution: (a) the name of the bank or other financial institution at which such account is maintained; (b) the account number; (c) the type of account; and (d) the names of all Persons who are authorized to sign checks or other documents with respect to such account. |
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