Common use of Due Organization and Qualification; Subsidiaries Clause in Contracts

Due Organization and Qualification; Subsidiaries. (a) Each Obligor is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation and qualified and licensed to do business in, and in good standing in, any state where the failure to be so licensed or qualified reasonably could be expected to constitute a Material Adverse Change.

Appears in 3 contracts

Samples: Loan and Security Agreement (Stormedia Inc), Loan and Security Agreement (Discovery Zone Inc), Loan and Security Agreement (Computervision Corp /De/)

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Due Organization and Qualification; Subsidiaries. (a) Each Obligor is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation organization and qualified and licensed to do business in, and in good standing in, any state where the failure to be so licensed or qualified would reasonably could be expected to constitute cause a Material Adverse Change.

Appears in 3 contracts

Samples: Loan and Security Agreement (Guitar Center Inc), Loan and Security Agreement (Guitar Center Inc), Loan and Security Agreement (Guitar Center Inc)

Due Organization and Qualification; Subsidiaries. (a) Each Obligor is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation organization and qualified and licensed to do business in, and in good standing in, any each state where the failure to be so licensed or qualified reasonably could be expected to constitute result in a Material Adverse Change.

Appears in 1 contract

Samples: Loan and Security Agreement (Star Telecommunications Inc)

Due Organization and Qualification; Subsidiaries. (a) Each Obligor Company is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation and qualified and licensed to do business in, and in good standing in, any state jurisdiction where the failure to be so licensed or qualified reasonably could be expected to constitute a Material Adverse Change.

Appears in 1 contract

Samples: Loan and Security Agreement (Telxon Corp)

Due Organization and Qualification; Subsidiaries. (a) Each Obligor Company is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation organization and qualified and licensed to do business in, and in good standing in, any state where the failure to be so licensed or qualified reasonably could be expected to constitute result in a Material Adverse Change.

Appears in 1 contract

Samples: Loan and Security Agreement (James River Coal CO)

Due Organization and Qualification; Subsidiaries. (a) Each Obligor of the Obligors is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation organization and qualified and licensed to do business in, and in good standing in, any state or province where the failure to be so licensed or qualified reasonably could be expected to constitute have a Material Adverse Change.

Appears in 1 contract

Samples: Loan and Security Agreement (Communications & Power Industries Inc)

Due Organization and Qualification; Subsidiaries. (a) Each Obligor of the Obligors and Holdings is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation organization and qualified and licensed to do business in, and in good standing in, any state where the failure to be so licensed or qualified reasonably could be expected to constitute have a Material Adverse Change.

Appears in 1 contract

Samples: Loan and Security Agreement (Muzak Capital Corp)

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Due Organization and Qualification; Subsidiaries. (a) Each Obligor is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation and qualified and licensed to do business in, and in good standing in, any state where the failure to be so licensed or qualified could reasonably could be expected to constitute have a Material Adverse Change.

Appears in 1 contract

Samples: Loan and Security Agreement (Neostar Retail Group Inc)

Due Organization and Qualification; Subsidiaries. (a) Each Obligor is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation organization and qualified and licensed to do business in, and in good standing in, any state where the failure to be so licensed or qualified reasonably could be expected to constitute result in a Material Adverse Change.

Appears in 1 contract

Samples: Loan and Security Agreement (Sholodge Inc)

Due Organization and Qualification; Subsidiaries. (a) Each Obligor is duly organized and existing and in good standing under the laws of the jurisdiction of its incorporation organization and qualified and licensed to do business in, and in good standing in, any state or province where the failure to be so licensed or qualified reasonably could be expected to constitute have a Material Adverse Change.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Midas Inc)

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