Accounts for Member Organizations Sample Clauses

Accounts for Member Organizations. Organizations that qualify for membership can open and own a one owner account, and both the organization and its designated signers are subject to the terms, responsibilities and liabilities of this contract. We may require any signer to provide proper evidence of the organization’s existence (e.g., articles of incorporation, partnership agreement, business license), and to establish both his or her authority to act as a signer (e.g., through a notarized board resolution, partnership letter, etc.) and his or her identity as a signer prior to opening the account. Each director, officer, partner, shareholder, employee, member, trustee, agent, signer, etc., promises that the organization has been legally formed and exists, that it qualifies for membership, and all signers promise that they hold the positions/titles as shown on Part 1 of this contract and have the authority to transact business on behalf of the organization member account owner. The organization account owner and all directors, officers, partners, shareholders, employees, members, trustees, agents and signers agree to the terms, responsibilities and liabilities of this contract (and the agreement, all disclosures, bylaws, policies and procedures incorporated by reference), and further agree to indemnify, defend, and hold us harmless for any loss, damage, claim or liability that occurs as a result of opening, maintaining, conducting transactions on and closing the account. As important, the organization and all signers authorize us to rely exclusively on the terms of Parts 1 and 2 of this contract, and agree that we have no obligation to rely on any other documents. In the event we need to review any documentation for opening, maintenance or termination of the organization account, or for any transaction on the organization account, you agree to pay all costs and expenses, including reasonable attorney fees, incurred for the review of that documentation. We reserve the right to require that all checks made payable to an organization be deposited to the organization’s account.
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Related to Accounts for Member Organizations

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  • Certification Regarding Business with Certain Countries and Organizations Pursuant to Subchapter F, Chapter 2252, Texas Government Code, PROVIDER certifies it is not engaged in business with Iran, Sudan, or a foreign terrorist organization. PROVIDER acknowledges this Purchase Order may be terminated if this certification is or becomes inaccurate.

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  • Organizational Contributions In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $20.00, for a 2% General Partner Interest in the Partnership and has been admitted as the General Partner of the Partnership, and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $980 for a 98% Limited Partner Interest in the Partnership and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, the interest of the Organizational Limited Partner shall be redeemed; and the initial Capital Contribution of the Organizational Limited Partner shall thereupon be refunded. Ninety-eight percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contributions shall be allocated and distributed to the Organizational Limited Partner, and the balance thereof shall be allocated and distributed to the General Partner.

  • Organization Buyer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. Buyer has all requisite power and authority to conduct its business as it is now conducted and to own, lease and operate its properties and assets.

  • Corporate Organization, Etc The Purchaser is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation with full corporate power and authority to carry on its business as it is now being conducted and to own, operate and lease its properties and assets. The Purchaser is duly qualified or licensed to do business and is in corporate and tax good standing in every jurisdiction in which the conduct of its business, the ownership or lease of its properties, or the execution of, and performance of the transactions contemplated by, this Agreement, require it to be so qualified or licensed.

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