Duly Formed Sample Clauses
The 'Duly Formed' clause establishes that a party to the agreement is a legally constituted entity, such as a corporation, partnership, or limited liability company, in accordance with the laws of its jurisdiction. This means the entity has completed all necessary steps for formation, such as filing required documents and obtaining any necessary governmental approvals. By including this clause, the agreement ensures that each party has the legal capacity to enter into contracts, thereby reducing the risk of unenforceable obligations or disputes over a party’s legal status.
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Duly Formed. The Partnership is a duly formed and validly existing limited partnership under the ELP Law, with all necessary power and authority under the ELP Law to issue the Interests to be issued to the Partners hereunder.
Duly Formed. The Partnership is a duly formed and validly existing limited partnership under the Act, with all necessary power and authority under the Act to issue the Interests to be issued to the Partners hereunder.
Duly Formed. All action of the Company necessary to authorize the effectiveness of this Agreement has been taken. The Company has been duly formed and is validly existing limited liability company under the Act, with all necessary power and authority under the Act to issue the Interests issued to the Members hereunder.
Duly Formed. The Company is a duly formed and validly existing limited liability company under the Act, with all necessary power and authority under the Act to issue the Interests to be issued to the Members hereunder.
Duly Formed. The Company is a duly formed and validly existing Cayman Islands limited liability company under the Act, with all necessary power and authority under the Act to issue the Units to be issued to the Members hereunder.
Duly Formed. The Company is duly formed, validly existing and in good standing under the laws of the State of [ ].
Duly Formed. The Company was duly converted from a corporation, duly formed as a limited liability company and is a validly existing limited liability company under the Act, with all necessary power and authority under the Act to issue the Interests to be issued to the Members hereunder. All action of the Company necessary to authorize the effectiveness of this Agreement has been taken.