FORMATION AND ORGANIZATION OF DEVCO Clause Samples

FORMATION AND ORGANIZATION OF DEVCO. 6 2.1 Formation, Organization and Initial Capitalization of DEVCO 6 2.2 Purpose of DEVCO 7 2.3 Board of Managers of DEVCO 7 ARTICLE 3 ACQUISITION OF INITIAL PROJECTS 7 3.1 Agreement to Transfer Initial Projects 7 3.2 Designation of Acquiring Entity 8 3.3 Initial Closings 9 ARTICLE 4 ACQUISITION OF ADDITIONAL PROJECTS 9 4.1 Right of First Offer 9 4.2 Review of Proposed Projects 10 4.3 Closing of Acquisitions of Additional Projects 11 ARTICLE 5 DEVELOPMENT OF PROJECTS 11 5.1 Project Development 11 5.2 Project Financing 12 ARTICLE 6 MANAGEMENT OF FACILITIES; FACILITY BRANDING 12 6.1 Management 12 ARTICLE 7
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FORMATION AND ORGANIZATION OF DEVCO. 2.1 Formation, Organization and Initial Capitalization of DEVCO. On or before January 31, 1999, ALS and HCR shall form, organize and initially capitalize DEVCO by (i) filing a certificate of formation with the Secretary of State of the State of Delaware with respect to DEVCO, (ii) each executing the Operating Agreement (DEVCO), and (iii) each designating their respective designees to the Board of Managers (hereinafter defined) and making their respective initial capital contribution to DEVCO as contemplated by Section 7.1 of the Operating Agreement (DEVCO).
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Related to FORMATION AND ORGANIZATION OF DEVCO

  • Incorporation and Organization The Corporation has been incorporated or formed, as the case may be, is organized and is a valid and subsisting corporation or partnership, as the case may be, under the laws of its jurisdiction of existence and has all requisite corporate power and capacity to carry on its business as now conducted or proposed to be conducted and to own or lease and operate the property and assets thereof.

  • Due Incorporation and Organization The Adviser is duly organized and is in good standing under the laws of the State of Connecticut and is fully authorized to enter into this Agreement and carry out its duties and obligations hereunder.

  • Organization and Status Purchaser (a) is duly formed, validly existing and in good standing under the laws of the jurisdiction of its formation as set forth in the preamble to this Agreement, (b) is duly qualified, authorized to do business and in good standing in each other jurisdiction where the character of its properties or the nature of its activities makes such qualification necessary, and (c) has all requisite power and authority to own or hold under lease the property it purports to own or hold under lease and to carry on its business as now being conducted. Purchaser has made available to Seller complete and correct copies of the Organization Documents for Purchaser.

  • Corporate Organization and Good Standing The Company is a corporation ---------------------------------------- duly organized, validly existing, and in good standing under the laws of the State of Delaware and is duly qualified and in good standing in all other states where the nature of its business or operations or the ownership of its property requires such qualification.

  • Formation and Name Office; Purpose; Term