Common use of Corporate Existence, Good Standing, Authority, and Compliance Clause in Contracts

Corporate Existence, Good Standing, Authority, and Compliance. Each Company is duly organized, validly existing, and in good standing under the Laws of the jurisdiction in which it is incorporated or organized as identified on Schedule 8.2 (or any revised Schedule 8.2 delivered by Borrower to Lenders evidencing changes permitted by Sections 9.10, 9.11, 10.10, or 10.11). Except where failure is not a Material Adverse Event, each Restricted Company (a) is duly qualified to transact business and is in good standing as a foreign corporation or other entity in each jurisdiction where the nature and extent of its business and properties require due qualification and good standing as identified on Schedule 8.2 (or any such revised Schedule 8.2), and (b) possesses all requisite authority, permits, licenses, consents, approvals, and power to (i) own or lease its assets and conduct its business as is now being, or is contemplated by this Agreement to be, conducted, and (ii) execute, deliver, and perform its obligations under the Loan Papers to which it is party.

Appears in 9 contracts

Samples: Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc)

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Corporate Existence, Good Standing, Authority, and Compliance. Each ------------------------------------------------------------ Company is duly organized, validly existing, existing and in good standing under the Laws of the jurisdiction in which it is incorporated or organized as identified on Schedule 8.2 SCHEDULE 7.2 (or any revised Schedule 8.2 SCHEDULE 7.2 delivered by Borrower to Lenders evidencing changes permitted by Sections 9.10pursuant to SECTION 8.12, 9.10 or 9.11, 10.10, or 10.11). Except where failure is not a Material Adverse Event, each Restricted Company (a) is duly qualified to transact business and is in good standing as a foreign corporation or other entity in each jurisdiction where the nature and extent of its business and properties require due qualification and good standing as identified on Schedule 8.2 SCHEDULE 7.2 (or any such revised Schedule 8.2SCHEDULE 7.2), and (b) possesses all requisite authority, permits, licenses, consents, approvals, permits and power to (i) own or lease its assets and conduct its business as is now being, or is contemplated by this Agreement to be, conducted, and (ii) execute, deliver, and perform its obligations under the Loan Papers to which it is party.

Appears in 2 contracts

Samples: Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc)

Corporate Existence, Good Standing, Authority, and Compliance. Each Company is duly organized, validly existing, existing and in good standing under the Laws of the jurisdiction in which it is incorporated or organized as identified on Schedule 8.2 (or any revised Schedule 8.2 delivered by Borrower to Lenders evidencing changes permitted by Sections 9.10, 9.11, 10.10, 10.10 or 10.11). Except where failure is not a Material Adverse Event, each Restricted Company (a) is duly qualified to transact business and is in good standing as a foreign corporation or other entity in each jurisdiction where the nature and extent of its business and properties require due qualification and good standing as identified on Schedule 8.2 (or any such revised Schedule 8.2), and (b) possesses all requisite authority, permits, licenses, consents, approvals, approvals and power to (i) own or lease its assets and conduct its business as is now being, or is contemplated by this Agreement to be, conducted, and (ii) execute, deliver, and perform its obligations under the Loan Papers to which it is party.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

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Corporate Existence, Good Standing, Authority, and Compliance. Each ------------------------------------------------------------ Company is duly organized, validly existing, existing and in good standing under the Laws of the jurisdiction in which it is incorporated or organized as identified on Schedule 8.2 SCHEDULE 7.2 (or any revised Schedule 8.2 SCHEDULE 7.2 delivered by Borrower to Lenders evidencing changes permitted by Sections 9.10pursuant to SECTION 8.11, 9.10 or 9.11, 10.10, or 10.11). Except where failure is not a Material Adverse Event, each Restricted Company (a) is duly qualified to transact business and is in good standing as a foreign corporation or other entity in each jurisdiction where the nature and extent of its business and properties require due qualification and good standing as identified on Schedule 8.2 SCHEDULE 7.2 (or any such revised Schedule 8.2SCHEDULE 7.2), and (b) possesses all requisite authority, permits, licenses, consents, approvals, permits and power to (i) own or lease its assets and conduct its business as is now being, or is contemplated by this Agreement to be, conducted, and (ii) execute, deliver, and perform its obligations under the Loan Papers to which it is party.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

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