Personal Property Leases. There are no leases of personal property used by the Company involving annual payments in excess of Twenty-Five Thousand Dollars ($25,000).

Personal Property Leases. Set forth on [Schedule 5.8(b)] is a true, complete and accurate list of all Personal Property Leases. A copy of each Personal Property Lease has heretofore been delivered or made available to ​. Each Personal Property Lease is valid, binding and enforceable against the applicable Subject Company and, to the Parties’ knowledge, the other parties thereto, in accordance with its terms and is in full force and effect. Neither a Subject Company nor, to the Parties’ knowledge, any other party to a Personal Property Lease is in breach or default (nor has any event occurred that, with the giving of notice or lapse of time, or both, would constitute such breach or default) under any of the Personal Property Leases to which each such entity is a party, which would have a Company Material Adverse Effect.

Purchase of Leases. Subject to the terms and conditions of this Agreement, Seller agrees to sell and assign, or cause to be assigned, to Buyer, and Buyer agrees to purchase and pay for and assume the duties and obligations for the Buyer Working Interest share of all of Seller rights, titles, interests and estates created by the Existing Leases described on the attached [Exhibit B].

New Leases means new Leases and any acquisitions of oil and gas properties covering lands within the AMI, identified and acquired by the Parties after the Closing Date, after consultation between Buyer and Seller.

Section # Maintenance of Properties; Insurance. The Borrower will, and will cause each of its Subsidiaries to:

Leases, Easements and Rights of Way. To the best of Borrowers' knowledge, Borrowers enjoy peaceful and undisturbed possession of all leases, easements and rights of way necessary in any material respect for the operation of their properties and assets, none of which contains any unusual or burdensome provisions that might materially affect or impair the operation of such properties and assets. All such leases, easements and rights of way are valid and subsisting and are in full force and effect.

or sublease. The Company owns, leases or licenses all such properties as are necessary to its operations as described

Ownership of Properties. The Company and its Subsidiaries have good title, free of all Liens other than those permitted by [Section 7.3(F)], to all of the assets reflected in the Company’s most recent consolidated financial statements provided to the Administrative Agent as owned by the Company and the Subsidiaries, except assets sold or otherwise transferred as permitted under [Section 7.3(C)].

Intellectual Properties Assignment. With respect to the Intellectual Property an Intellectual Property Assignment Agreement substantially in the form of [Exhibit G] hereto (the “Intellectual Property Assignment Agreement”) duly executed by Seller and Buyer, effecting the assignment to and assumption by Buyer of the Intellectual Property;

Each of the Borrower and its Subsidiaries has good and marketable title in fee simple to, or valid leasehold interests in, all real property material to the conduct of its business, except for such minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes and except for Permitted Liens.