LEGAL ENTITY STATUS Clause Samples
The Legal Entity Status clause defines and affirms the legal standing and organizational form of a party entering into an agreement. It typically requires each party to confirm that it is duly organized, validly existing, and in good standing under the laws of its jurisdiction, such as being a corporation, partnership, or limited liability company. This clause ensures that all parties have the legal capacity to enter into the contract, thereby reducing the risk of unenforceability due to lack of proper legal status.
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LEGAL ENTITY STATUS. If Borrower is a legal entity, by signing below, the undersigned representatives of such entity represent that there have been NO CHANGES in: the entity’s directors, officers, partners, managers, trustees or beneficiaries; or in the entity’s lawful powers to borrow or encumber entity assets to secure its debts; or in the authority of any person signing below to act for and bind the entity; or in the entity’s Articles, Bylaws, or other applicable legal documents creating or sustaining the entity since the later of delivery to Lender of the last statement proving entity status and authorization or such entity organizational documents and consents as requested by Lender.
LEGAL ENTITY STATUS. If any Borrower is a legal entity, by signing below, the undersigned representatives of such entity certify that there have been NO CHANGES in: the entity’s owners, directors, officers, partners, managers, trustees or beneficiaries; or in the entity’s lawful powers to borrow or encumber entity assets to secure its debts; or in the authority of any person signing below to act for and bind the entity; or in the entity’s Articles, Bylaws, Partnership Agreement, Management or Operating Agreement, Declaration of Trust, or other applicable legal documents creating or sustaining the entity since the execution of the last statement to Lender.
LEGAL ENTITY STATUS. MECA is a limited liability company duly organized, validly existing, and in good standing under the laws of the State of Delaware. MECA is not, and the execution and delivery of this Agreement and each document contemplated hereby, and the consummation of the transactions contemplated herein, will not cause it to be, in violation of any provision of its Certificate of Formation or Amended and Restated Limited Liability Company Agreement as currently in effect (respectively, the "Charter Documents").