Formation and Continuance Sample Clauses
The Formation and Continuance clause defines the requirements for establishing and maintaining the legal existence and good standing of a party, typically a company or other legal entity, throughout the duration of an agreement. It usually requires that the party be duly incorporated, validly existing, and authorized to conduct business in relevant jurisdictions, and that it continues to meet these conditions for the life of the contract. This clause ensures that all parties remain legitimate and capable of fulfilling their contractual obligations, thereby reducing the risk of dealing with entities that may become invalid or unauthorized during the agreement.
Formation and Continuance. Pursuant to a partnership agreement dated as of February 26, 2003, Fording Inc. and one of its predecessors, Fording Coal Limited, Teck, TBCI and QCP formed the Partnership under the laws of the Province of Alberta, which agreement was superseded and replaced on the date thereof by the original version of this Agreement (the “Original Partnership Agreement”). Thereafter, the Original Partnership Agreement was amended on May 24, 2004, July 14, 2004 and August 24, 2005, which amendments are incorporated into the 2005 Partnership Agreement. The Partners wish to continue to carry on their business through the continuing Partnership on the terms set forth herein.
Formation and Continuance. The Company was formed as a limited liability company pursuant to the Act by the filing of a Certificate of Formation with the Office of the Secretary of State of the State of Delaware on September 29, 2014. The Members hereby agree to continue the Company as a Delaware limited liability company pursuant to the provisions of the Act and this Agreement. The Managing Member or an officer shall execute, deliver and file any other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do business in any other jurisdiction in which the Company may wish to conduct business. The rights and liabilities of the Members shall be as provided under the Act, the Certificate of Formation and this Agreement.
Formation and Continuance. The General Partners and the Limited Partner hereby confirm the continuance of the Partnership, as initially formed under the Original Limited Partnership Agreement, under the Act. The rights, restrictions and liabilities of the Partners shall be as provided in the Act except as herein otherwise expressly provided.
Formation and Continuance