Organization and Licensing Clause Samples
The Organization and Licensing clause establishes the requirement that a party to the agreement is properly organized as a legal entity and holds all necessary licenses or permits to conduct its business. In practice, this clause typically obligates the party to confirm its legal status (such as being a corporation or LLC) and to ensure it has obtained and maintains any regulatory approvals or business licenses relevant to its operations. This clause serves to assure the other party that the organization is legally authorized to enter into the contract and perform its obligations, thereby reducing the risk of legal or regulatory non-compliance.
Organization and Licensing. The Insurer is a duly incorporated and existing New York stock insurance company licensed to do business in the State of New York and is in good standing under the laws of such state.
Organization and Licensing. The Insurer is a stock insurance corporation duly organized, validly existing and in good standing under the laws of the State of Wisconsin.
Organization and Licensing. The Policy Provider is a stock insurance corporation duly organized, validly existing and in good standing under the laws of the State of Wisconsin;
Organization and Licensing. The Certificate Insurer is a duly organized, validly existing and in good standing New York stock insurance company duly qualified to conduct an insurance business in the State of New York.
Organization and Licensing. The Note Insurer is a duly organized and licensed and validly existing Wisconsin stock insurance corporation duly qualified to conduct an insurance business in the State of New York.
Organization and Licensing. Ambac is a stock insurance corporation duly organized, validly existing and in good standing under the laws of the State of Wisconsin.
Organization and Licensing. The Insurer is a financial guaranty insurance corporation duly organized, validly existing and in good standing under the laws of the State of New York.
Organization and Licensing. The Policy Provider is duly organized, validly existing and in good standing as a New York-domiciled stock insurance company duly qualified to conduct an insurance business in every jurisdiction where qualification may be necessary to accomplish the Transactions.
Organization and Licensing. The Certificate Insurer is a duly organized and licensed and validly existing Wisconsin stock insurance company duly qualified to conduct an insurance business in the State of New York.
Organization and Licensing. The Policy Provider is duly organized, validly existing and in good standing as a Wisconsin-domiciled stock insurance company, duly qualified to conduct an insurance business in every jurisdiction where qualification may be necessary to accomplish the Transactions.