This excerpt taken from the TQNT 10-K filed Mar 15, 2005.
Permitted Liens means (i) Liens for current Taxes not yet due and payable, (ii) covenants, conditions, and restrictions of record, none of which materially impairs the use of such property in the manner currently used or impairs the ability of the Company or any of its Subsidiaries to transfer a valid leasehold interest to such Leased Real Property, (iii) any materialmens, mechanics, workmens, repairmens, contractors, warehousemens, carriers, suppliers, vendors or similar lien, if payment is not yet due on the underlying obligation, (iv) Liens in respect of pledges or deposits under workers compensation laws or similar legislation, (v) all building codes, zoning ordinances, planning restrictions and other laws, ordinances, regulations, rules, orders or determinations of any federal, state, county, municipal or other governmental authority heretofore, now or hereafter enacted, made or issued by any such authority affecting the property, and (vi) minor defects in title, none of which, individually or in the aggregate, materially interfere with the use of such property.
(c) Each of the leases and subleases relating to the Leased Real Property is in full force and effect, there is no material default by the Company or any Subsidiary (or to the
knowledge of the Company, by the lessor) under any such lease or sublease, and each such lease and sublease will remain in full force and effect immediately following the Closing without any modification in the rights or obligations of the parties under any such lease or sublease agreed to by the Company or any of its Subsidiaries.
4.9 Tangible Personal Property.
(a) Each of the Company and its Subsidiaries has good and marketable title to all machinery and equipment, tools, spare and maintenance parts, furniture, vehicles, and all other tangible personal property (collectively, the