AND ALL LIENS EXCEPT FOR PERMITTED LIENS; AND IT HAS NO
COMMITMENT OR OBLIGATION (CONTINGENT OR OTHERWISE) TO GRANT ANY LIENS EXCEPT FOR
PERMITTED LIENS. NO EVENT HAS OCCURRED WHICH CONSTITUTES, OR WHICH WITH THE
GIVING OF NOTICE, LAPSE OF TIME OR BOTH WOULD CONSTITUTE, A MATERIAL DEFAULT
UNDER ANY PERMITTED LIEN.
(I)
OWNED PROPERTIES - SCHEDULE 3.01(I)
ATTACHED HERETO CONTAINS A TRUE AND COMPLETE LIST OF THE OWNED PROPERTIES.
EACH
COMPANY OR SUBSIDIARY LISTED ON SUCH SCHEDULE AS THE OWNER OF AN OWNED PROPERTY
IS THE REGISTERED AND BENEFICIAL OWNER OF SUCH OWNED PROPERTY, HAVING GOOD AND
11
MARKETABLE TITLE THERETO FREE OF
ALL LIENS OTHER THAN PERMITTED LIENS (AND LIENS WHICH WILL BE DISCHARGED FROM
THE PROCEEDS OF THE FIRST ADVANCE HEREUNDER).
(J)
LEASED PROPERTIES - SCHEDULE 3.01(J)
ATTACHED HERETO CONTAINS A TRUE AND COMPLETE LIST OF THE LEASED PROPERTIES. A
TRUE AND COMPLETE COPY OF EACH SAID LEASE HAS BEEN PROVIDED TO THE BANK.
(K)
INTELLECTUAL PROPERTY - IT POSSESSES OR HAS
THE RIGHT TO USE ALL LICENSES, FRANCHISES, PERMITS, REGISTRATIONS, PATENTS,
PATENT RIGHTS, TRADEMARKS, TRADEMARK RIGHTS, TRADE NAMES, TRADE NAME RIGHTS,
SERVICE MARKS, SERVICE MARK RIGHTS, COPYRIGHTS AND OTHER FORMS OF INTELLECTUAL
PROPERTY MATERIAL TO THE CONDUCT OF ITS BUSINESS, EACH OF WHICH IS IN GOOD
STANDING IN ALL MATERIAL RESPECTS; AND HAS THE RIGHT TO USE SUCH INTELLECTUAL
PROPERTY WITHOUT VIOLATION OF ANY RIGHTS OF OTHERS WITH RESPECT THERETO.
(L)
INSURANCE - SCHEDULE 3.01(L) ATTACHED
HERETO CONTAINS A TRUE AND COMPLETE LIST OF ALL INSURANCE POLICIES HELD BY THE
COMPANIES AND THEIR SUBSIDIARIES. IN THE LAST THREE YEARS NO INSURANCE POLICY
HELD BY THE COMPANIES OR ANY OF THEIR SUBSIDIARIES HAS BEEN CANCELLED BY THE
INSURER, AND NO INSURER HAS REFUSED TO RENEW ANY SUCH INSURANCE COVERAGE.
(M)
LABOUR AGREEMENTS - SCHEDULE 3.01(M) ATTACHED
HERETO CONTAINS A TRUE AND COMPLETE LIST OF ALL COLLECTIVE AGREEMENTS PRESENTLY
IN EFFECT BETWEEN THE COMPANIES AND THEIR SUBSIDIARIES AND ANY LABOUR UNION OR
EMPLOYEE ASSOCIATION. EXCEPT FOR THE SAID COLLECTIVE AGREEMENTS LISTED IN
SCHEDULE 3.01(M), NEITHER THE COMPANIES NOR ANY OF THEIR SUBSIDIARIES ARE UNDER
ANY OBLIGATION TO ASSUME ANY SUCH CONTRACTS TO OR CONDUCT NEGOTIATIONS WITH ANY
LABOUR UNION OR EMPLOYEE ASSOCIATION WITH RESPECT TO ANY FUTURE AGREEMENTS, AND
IT IS NOT AWARE OF ANY CURRENT ATTEMPTS TO ORGANIZE OR ESTABLISH ANY SUCH LABOUR
UNION OR EMPLOYEE ASSOCIATION.
(N)
ENVIRONMENTAL LAWS - ITS BUSINESS,
OPERATIONS, ASSETS, EQUIPMENT, PROPERTY, LEASEHOLDS AND OTHER FACILITIES ARE IN
COMPLIANCE IN ALL MATERIAL RESPECTS WITH ALL REQUIREMENTS OF ENVIRONMENTAL LAW,
SPECIFICALLY INCLUDING ALL REQUIREMENTS OF ENVIRONMENTAL LAW CONCERNING THE
STORAGE AND HANDLING OF HAZARDOUS MATERIALS.
(O)
LITIGATION - EXCEPT AS DISCLOSED IN SCHEDULE
3.01(O) ATTACHED HERETO, THERE ARE NO ACTIONS, SUITS OR PROCEEDINGS PENDING OR
TO THE BEST KNOWLEDGE OF EACH OF THE COMPANIES OR ANY OF THEIR SUBSIDIARIES
THREATENED AGAINST IT IN ANY COURT OR BEFORE OR BY ANY FEDERAL, PROVINCIAL,
MUNICIPAL OR OTHER GOVERNMENTAL AUTHORITY WHERE THERE IS A REASONABLE LIKELIHOOD
THAT THE LIABILITY OF THE COMPANIES OR ANY ONE