Common use of Company Matters Clause in Contracts

Company Matters. Each of Borrower, Pledgor, Allseas, Phoenix, and Holding Company is an exempted company incorporated under the laws of Bermuda, and possesses the capacity to s▇▇ and be sued in its own name and is in good standing under the laws of Bermuda. Charterer is an exempted company incorporated under the laws of the British Virgin Islands, and possesses the capacity to s▇▇ and be sued in its own name and is in good standing under the laws of the British Virgin Islands. Each Credit Party, and each of Allseas, Phoenix, Bulk Atlantic, Bulk Cajun and Bulk Discovery possesses all requisite power and authority to enter into, execute, deliver, and perform its obligations under this Agreement and the other Loan Documents, the Bulk Beothuk Loan Documents, the Bulk Cajun Loan Documents, and the Bulk Discovery Loan Documents, respectively, to which it is or is to become party pursuant to this Agreement and to take all action as may be necessary to consummate the transactions contemplated thereby. The entry into, execution, delivery, and performance by each Credit Party, and each of Allseas, Phoenix, Bulk Atlantic, Bulk Cajun and Bulk Discovery of the Loan Documents to which it is, or, pursuant to this Agreement is to be a party, and the transactions contemplated thereby, have been duly authorized by all necessary corporate action. This Agreement and the Loan Documents, and the other Group Loan Documents, in each case which this Agreement contemplates that any of the Credit Parties, Allseas, Phoenix, Bulk Atlantic, Bulk Cajun or Bulk Discovery, respectively, will execute have been duly executed by such Persons and constitute (or shall constitute when executed and delivered) legal, valid, and binding obligations of such Persons, enforceable against them in accordance with their terms.

Company Matters. Each of Borrower, Pledgor, Allseas, Phoenix, and Holding Company is an exempted company incorporated under the laws of Bermuda, and possesses the capacity to s▇▇ and be sued in its own name and is in good standing under the laws of Bermuda. Charterer is an exempted company incorporated under the laws of the British Virgin Islands, and possesses the capacity to s▇▇ and be sued in its own name and is in good standing under the laws of the British Virgin Islands. Each Credit Party, and each of Allseas, Phoenix, Bulk Atlantic, Bulk Cajun and Bulk Discovery possesses all requisite power and authority to enter into, execute, deliver, and perform its obligations under this Agreement and the other Loan Documents, the Bulk Beothuk Loan Documents, the Bulk Cajun Loan Documents, and the Bulk Discovery Loan Documents, respectively, to which it is or is to become party pursuant to this Agreement and to take all action as may be necessary to consummate the transactions contemplated thereby. The entry into, execution, delivery, and performance by each Credit Party, and each of Allseas, Phoenix, Bulk Atlantic, Bulk Cajun and Bulk Discovery of the Loan Documents to which it is, or, pursuant to this Agreement is to be a party, and the transactions contemplated thereby, have been duly authorized by all necessary corporate action. This Agreement and the Loan Documents, and the other Group Loan Documents, in each case which this Agreement contemplates that any of the Credit Parties, Allseas, Phoenix, Bulk Atlantic, Bulk Cajun or Bulk Discovery, respectively, will execute have been duly executed by such Persons and constitute (or shall constitute when executed and delivered) legal, valid, and binding obligations of such Persons, enforceable against them in accordance with their terms.