Authority And Good Standing Sample Clauses
The "Authority and Good Standing" clause serves to confirm that each party entering into the agreement has the legal power and proper organizational status to do so. Typically, this clause requires each party to affirm that it is duly organized, validly existing, and in good standing under the laws of its jurisdiction, and that it has obtained all necessary approvals to execute and perform the contract. By including this provision, the parties ensure that the agreement is legally binding and enforceable, reducing the risk of future disputes over a party’s capacity or legitimacy to contract.
Authority And Good Standing. Each of them has the power to enter into this Amendment and to perform all of its obligations hereunder. Each of the Obligors: (a) has duly authorized the entry into and performance of this Amendment; (b) is in good standing in the jurisdiction of its organization; and (c) is duly licensed or qualified and in good standing in all jurisdictions where the property owned or leased by it or the nature of the business transacted by it makes such licensing or qualification necessary.
Authority And Good Standing. Each of them has the power to enter into this Amendment and to perform all of its obligations hereunder. Each of the Loan Parties: (a) has duly authorized the entry into and performance of this Amendment; (b) is in good standing in the jurisdiction of its organization; and (c) is duly licensed or qualified and in good standing in all jurisdictions where the property owned or leased by it or the nature of the business transacted by it makes such licensing or qualification necessary.
Authority And Good Standing. Each Obligor: (a) has the power to enter into this Agreement and any related documents and to perform all of its obligations hereunder and thereunder; (b) has duly authorized the entry into and performance of this Agreement and all related documents; and (c) is in good standing in the state of its organization and is qualified to do business and is in good standing in all other states in which it transacts business.
Authority And Good Standing. The BORROWER:
(a) has the power to enter into this AGREEMENT and any related documents and to perform all of its obligations hereunder and thereunder; (b) has duly authorized the entry into and performance of this AGREEMENT and all related documents; and (c) is in good standing in the state of its organization and is qualified to do business and is in good standing in all other states in which the BORROWER transacts business and in which the failure to qualify could reasonably be expected to be or result in a MATERIAL ADVERSE EVENT.
Authority And Good Standing. At all times during the term of this Agreement, Broker shall have and maintain the requisite power, authority, and legal capacity to enter into and perform its obligations under this Agreement. ▇▇▇▇▇▇ has taken all necessary actions to authorize the execution, delivery, and performance of its duties under this Agreement. Further, ▇▇▇▇▇▇’s performance under this Agreement will not conflict with or result in a breach of any terms, conditions, or provisions of Applicable Laws or regulations, or of Broker’s articles of incorporation, charter, by-laws, partnership agreement, or other organizational documents, any agreement to which it is a party, or any court order, judgment or decree to which it is subject. ▇▇▇▇▇▇’s participation in this Agreement is in the ordinary course of ▇▇▇▇▇▇’s business.
Authority And Good Standing. NTGM is a limited liability --------------------------- company duly organized, validly existing and in good standing under the laws of the State of Delaware, U.S.A. and all action necessary to authorize it to enter into this Agreement and to form and operate entities to be formed and operated by it under this Agreement has been taken.
Authority And Good Standing. Each of the Loan Parties: (a) is in good standing in the jurisdiction of its organization; (b) is duly licensed or qualified and in good standing in all jurisdictions where the property owned or leased by it or the nature of the business transacted by it makes such licensing or qualification necessary, and (c) has the power to enter into this Amendment and to perform all of its obligations hereunder. The execution, delivery, and performance of its obligations under this Amendment, the Credit Agreement, and the other Credit Documents have been authorized by all necessary organizational action of each of the Loan Parties.
Authority And Good Standing. Each of the Obligors: (a) is in good standing in the jurisdiction of its organization; (b) is duly licensed or qualified and in good standing in all jurisdictions where the property owned or leased by it or the nature of the business transacted by it makes such licensing or qualification necessary, and (c) has the power to enter into this Amendment and to perform all of its obligations hereunder. The execution, delivery, and performance of its obligations under this Amendment, the Credit Agreement, and the other Credit Documents have been authorized by all necessary organizational action of each of the Obligors.
Authority And Good Standing. The Seller has (and will have on the Closing Date) good right, full power and authority to enter into this Agreement and to sell, assign and transfer its Shares to the Purchaser in the manner contemplated herein and to perform all of its obligations under this Agreement. Each Group Company is a company duly organized, validly existing and, where such concept applies, in good standing under the laws of its jurisdiction of formation, each Group Company has the power and authority to own, operate and lease its properties and to conduct its business as conducted as of the Signing Date and the Closing Date. No Group Company is in violation of its constitutional documents. This Agreement and all other agreements contemplated by this Agreement to be executed by the Seller are and will be valid and binding obligations of the Seller enforceable against the Seller in accordance with their respective terms.
Authority And Good Standing. The Borrower: (a) has the power to enter into this Agreement and any related Documents and to perform all of its obligations hereunder and thereunder; (b) has duly authorized the entry into and performance of this Agreement and all related Documents; (c) is in good standing in the state of its organization and is qualified to do business and is in good standing in all other states in which it transacts business; and (d) has obtained all necessary consents and approvals to enter into this Agreement and the transactions contemplated hereby.