(r) Legal Proceedings. Except as described in each of the Registration Statement, the Time of Sale Information and the Prospectus, there are no legal, governmental or regulatory investigations, actions, suits or proceedings pending to which Parent or any of its subsidiaries is or, to the knowledge of the Issuers and Guarantors, may be reasonably expected to become a party or to which any property of Parent or any of its subsidiaries is or, to the knowledge of the Issuers and the Guarantors, may be reasonably expected to become the subject (other than any investigations, actions, suits or proceedings under seal or about which Parent or its subsidiaries have not received notice) that, individually or in the aggregate, if determined adversely to Parent or any of its subsidiaries, would reasonably be expected to have a Material Adverse Effect; and to the knowledge of the Issuers and each of the Guarantors no such investigations, actions, suits or proceedings are threatened by any governmental or regulatory authority or by others.
(s) Independent Registered Public Accounting Firms. Ernst & Young LLP, who has certified certain financial statements of Parent and its subsidiaries, is an independent registered public accounting firm with respect to Parent and its subsidiaries within the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by the Securities Act.
(t) Title to Real and Personal Property. Except as disclosed in the Registration Statement, the Time of Sale Information and the Prospectus, Parent and its subsidiaries have good and marketable title in fee simple (in the case of real property) to, or have valid interest and rights to lease or otherwise use, all items of real and personal property and assets that are material to the respective businesses of Parent and its subsidiaries, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title other than Permitted Liens (as defined in the Time of Sale Information), except those that (i) do not materially interfere with the use made and proposed to be made of such property by Parent and its subsidiaries or (ii) would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.
(u) Title to Intellectual Property. Parent and its subsidiaries own or possess, or can obtain on reasonable terms, adequate rights to use all material patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures) necessary for the conduct of their respective businesses as currently conducted and as currently proposed to be conducted, except as would not be expected to have a Material Adverse Effect; and, to the knowledge of the Issuers and the Guarantors, the conduct of their respective businesses will not conflict in any material respect with any such rights of others, and Parent and its subsidiaries have not received any notice of any claim of infringement of or conflict with any such rights of others except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or as set forth in the Registration Statement, the Time of Sale Information or the Prospectus.
(v) No Undisclosed Relationships. No relationship, direct or indirect, exists between or among Parent or any of its subsidiaries, on the one hand, and the directors, officers, stockholders or other affiliates of Parent or any of its subsidiaries, on the other, that would be required by the Securities Act to be described in the Registration Statement and that is not so described in each of the Registration Statement, the Time of Sale Information and the Prospectus.
(w) Investment Company Act. Neither Parent nor any of its subsidiaries is, and after giving effect to sale of the Securities and the application of the proceeds thereof as described in each of the Registration Statement, the Time of Sale Information and the Prospectus none of them will be, required to register as an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Investment Company Act”).
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