Existence and Good Standing; Authority. The Company is a corporation validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted.
Existence and Good Standing; Authority. If such Standby Purchaser is an entity, such Standby Purchaser is duly organized, validly existing and in good standing (or its equivalent) under the laws of the state of its formation. Such Standby Purchaser has all requisite legal capacity or power and authority, as applicable, to execute and deliver this Agreement and the other agreements, instrument and documents of such Standby Purchaser contemplated hereby, and to consummate the transactions contemplated hereby and thereby.
Existence and Good Standing; Authority. Such Investor is validly existing and in good standing under the laws of the state of its formation and has all requisite power and authority to carry on its business as now conducted.
Existence and Good Standing; Authority. The Standby Purchaser is a limited liability company validly existing and in good standing under the laws of the State of Delaware, with all requisite power and authority to own, lease and carry on its business as presently conducted.
Existence and Good Standing; Authority. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Nevada and has all requisite corporate power and authority to carry on its business as now conducted and to execute and deliver this Agreement and the other agreements, instrument and documents of the Company contemplated hereby, and to consummate the transactions contemplated hereby and thereby.
Existence and Good Standing; Authority. If the Backstop Purchaser is a corporation, partnership or limited liability company duly organized, the Backstop Purchaser is validly existing and in good standing under the laws of its state or country of organization.
Existence and Good Standing; Authority. The Company is a corporation validly existing and in good standing under the laws of the State of Minnesota and has all requisite corporate power and authority to carry on its business as presently conducted.
Existence and Good Standing; Authority. Each Standby Purchaser is validly existing and in good standing under the laws of the state of its formation and has all requisite power and authority to carry on its business as now conducted.
Existence and Good Standing; Authority. Each of the Company and each Subsidiary (defined below), has been duly organized and is validly existing as a corporation in good standing under the laws of its jurisdiction of organization and has all power and authority necessary to own, hold or lease its properties and to conduct the business in which it is engaged and as described in the Company Reports. The term “Company Reports” means (i) the reports, schedules, forms, statements and other documents filed by the Company under the Securities Act and the Exchange Act after February 3, 2013 and prior to the date hereof. Each of the Company and each Subsidiary is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction in which its ownership or lease of property or the conduct of its business requires such qualification and has all power and authority necessary to own, hold or lease its properties and to conduct the business in which it is engaged and as described in the Company Reports, except where the failure to so qualify or have such power or authority (i) would not have, individually or in the aggregate, a material adverse effect on the condition (financial or otherwise), results of operations, assets or business of the Company or any Subsidiary, taken as a whole, or (ii) impair in any material respect the ability of the Company to perform its obligations under this Agreement or to consummate any transactions contemplated by this Agreement (any such effect as described in clauses (i) or (ii), a “Material Adverse Effect”). The Company owns or controls, directly or indirectly, only the following corporations, partnerships, limited liability partnerships, limited liability companies, associations or other entities: The Wet Seal Catalog Inc. (Delaware), The Wet Seal GC, LLC (Virginia) and The Wet Seal Retail Inc. (Delaware) (each a “Subsidiary” and collectively, the “Subsidiaries”), and has no other interest, nominal or beneficial, direct or indirect, in any other corporation, joint venture or other business entity.
Existence and Good Standing; Authority. Such Standby Purchaser is (i) a limited liability company duly organized, validly existing and in good standing under the laws of the state of Delaware, in the case of DRW Commodities, or Illinois, in the case of DOOH Investments, with full power and authority to perform its obligations under this Agreement; or (ii) in the case of the Trust, a trust duly formed in accordance with the laws of the state of Illinois.
