customary non-assignment provisions in leases, licenses, encumbrances, contracts or similar assets entered into or acquired in the ordinary course of business,

[Schedule 4.8(b)] sets forth a list of each Contract pursuant to which the Target Companies lease an item of Personal Property that involves annual payments in excess of Five Hundred Thousand Dollars (US$500,000) (whether capital, operating or otherwise, the “Personal Property Leases”). The Sellers and/or the Target Companies have made available to the Buyer prior to the date hereof, true, correct and complete copies of the Personal Property Leases.

leases, subleases, licenses or sublicenses of any real or personal property, other than any Intellectual Property, in the ordinary course of business;

“Permitted Equipment Leases” shall mean equipment leases or other similar instruments entered into with respect to the Personal Property; provided, that, in each case, such equipment leases or similar instruments # are entered into on commercially reasonable terms and conditions in the ordinary course of ​’s business and # relate to Personal Property which is # used in connection with the operation and maintenance of the Property in the ordinary course of ​’s business and # readily replaceable without material interference or interruption to the operation of the Property.

“Inventory” means any and all inventory (as that term is defined in the U.C.C.) of any Grantor and shall include, without limitation, tangible personal property held for sale or lease or to be furnished under contracts of service, tangible personal property which any such Grantor has so leased or furnished, and raw materials, work in process and materials used, produced or consumed in such Grantor’s business, and shall include tangible personal property returned to any such Grantor by a purchaser or lessor thereof following the sale or lease thereof by any such Grantor.

Title to Tangible Personal Property. Except as set forth in [Schedule 4.5] of the Disclosure Schedules, [[Organization A:Organization]] has good and valid title to, or a valid leasehold interest in, the Purchased Assets, free and clear of all Encumbrances other than those Encumbrances which [[Organization A:Organization]] will cause to be discharged at the Closing as set forth on [Schedule 4.5] of the Disclosure Schedules.

Ownership of Personal Property; Liens. Except as could not reasonably be expected to have a Material Adverse Effect, each of the Borrower and its Restricted Subsidiaries has good title to all of its respective personal properties and assets, free and clear of any Liens, except for Permitted Liens. Each of the Borrower and its Restricted Subsidiaries has obtained all permits, licenses, franchises or other certifications, accreditations, consents, approvals and authorizations, governmental or private, necessary to the ownership of such properties and assets and the conduct of its business, except where any failure to do so could not reasonably be expected to have a Material Adverse Effect.

Equity Interests and Personal Property. Each [[Loan Party:Organization]] will cause the Pledged Equity and all of its tangible and intangible personal property now owned or hereafter acquired by it to be subject at all times to a first priority, perfected Lien (subject to Permitted Liens to the extent permitted by the Loan Documents) in favor of the [[Administrative Agent:Organization]] for the benefit of the Secured Parties to secure the Secured Obligations pursuant to the terms and conditions of the Collateral Documents. Each [[Loan Party:Organization]] shall provide opinions of counsel and any filings and deliveries reasonably necessary in connection therewith to perfect the security interests therein, all in form and substance reasonably satisfactory to the [[Administrative Agent:Organization]].

Subject to this Section 9, Trustor hereby irrevocably and absolutely grants, transfers and assigns to Beneficiary a security interest in all of its right title and interest in all Leases, together with any and all extensions and renewals thereof for purposes of securing and discharging the performance by Trustor of the Secured Obligations. Trustor has not assigned or executed any assignment of, and will not assign or execute any assignment of, any other Lease or their respective Rents to anyone other than Beneficiary, in each case, except as permitted by the Credit Agreement.

Assignment of Leases and Rents. There exists as part of the related Mortgage File an Assignment of Leases (either as a separate instrument or incorporated into the related