Due Organization and Power Sample Clauses
The 'Due Organization and Power' clause establishes that a party to the agreement is properly formed, validly existing, and has the legal authority to enter into and perform its obligations under the contract. In practice, this means the party is a legitimate entity—such as a corporation or LLC—duly organized under the laws of its jurisdiction, and that it possesses the necessary corporate or organizational power to execute the agreement. This clause ensures that the party is legally capable of being bound by the contract, thereby reducing the risk of unenforceability due to lack of proper authority or organizational defects.
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Due Organization and Power. Each Security Party is duly formed and is validly existing in good standing under the laws of its jurisdiction of incorporation or formation, has full power to carry on its business as now being conducted and to enter into and perform its obligations under this Agreement, the Note and the Security Documents to which it is a party, and has complied with all statutory, regulatory and other requirements relative to such business and such agreements;
Due Organization and Power. Buyer is a corporation duly organized, validly existing and in good standing under the laws of Delaware. Buyer has all requisite corporate power, legal right and authority to enter into this Agreement and the other documents and instruments to be executed and delivered by Buyer pursuant hereto and to carry out the transactions contemplated hereby and thereby.
Due Organization and Power. Buyer is a limited liability company duly formed under the Laws of State of Delaware and has the requisite limited liability company power and authority to conduct its business. Buyer is duly qualified to do business in each jurisdiction where the conduct of the business of Buyer requires such qualification, except in such jurisdictions where the failure to be so qualified would not reasonably be expected to prevent, or result in any delay in the consummation of, the transactions contemplated hereby.
Due Organization and Power. Purchaser is duly organized, validly existing and in good standing under the law of the Cayman Islands. Purchaser (A) has all requisite corporate power and authority to own its properties and assets and to carry on its business as it is now being conducted and (B) is in good standing and is duly qualified to transact business in each jurisdiction in which it is required to be so qualified, except, in the case of clause (A) or (B), where the failure to have such power and authority or to be in good standing would not reasonably be expected to prevent, materially delay or materially impede the ability of Purchaser to consummate the transactions contemplated by this Agreement.
Due Organization and Power. Such Seller is duly organized, validly existing and in good standing under the law of its jurisdiction of organization. Such Seller (A) has all requisite power and authority to own its properties and assets and to carry on its business as it is now being conducted and (B) is in good standing and is duly qualified to transact business in each jurisdiction in which it is required to be so qualified, except, in the case of clause (A) or (B), where the failure to have such power and authority or to be in good standing would not reasonably be expected to prevent, materially delay or materially impede the ability of such Seller to consummate the transactions contemplated by this Agreement.
Due Organization and Power the Borrower and each of the Subsidiaries are duly formed and are validly existing in good standing under the laws of their respective jurisdictions of incorporation, have duly qualified and are authorized to do business as a foreign corporation in each jurisdiction wherein the nature of the business transacted thereby makes such qualification necessary, have full power to carry on their respective businesses as now being conducted and, in the case of the Borrower, to enter into and perform the Borrower's obligations under each of this Agreement and the Note and have complied with all statutory, regulatory and other requirements relative to such businesses and such agreements the noncompliance with which could reasonably be expected to give rise to a Material Adverse Change;
Due Organization and Power. Each Obligor is duly formed or incorporated, validly existing and in good standing under the laws of its jurisdiction of formation, has all requisite power to carry on its business as now being conducted and to enter into and perform its obligations under the Loan Documents to which it is a party, and has complied in all material respects with all statutory, regulatory and other requirements relative to such business and such agreements;
Due Organization and Power. The Buyer is a corporation duly incorporated or otherwise organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization.
Due Organization and Power. Buyer is a corporation duly organized and validly existing under the laws of its jurisdiction of incorporation. Buyer has all requisite power and authority to enter into this Agreement and any other agreement contemplated hereby and to perform their respective obligations hereunder and thereunder. Buyer is duly authorized, qualified or licensed to do business as a foreign corporation, and is in good standing, in each of the jurisdictions in which its right, title or interest in or to any asset, or the conduct of its business, requires such authorization, qualification or licensing, except where the failure to so qualify or to be in good standing would not have a Material Adverse Effect on the ability of Buyer to perform its obligations hereunder or under any other agreement contemplated hereby.
Due Organization and Power. Each of Parent and Purchaser is a corporation duly incorporated or otherwise organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization.