Common use of Incorporation and Organization Clause in Contracts

Incorporation and Organization. Silvermex and each of the Silvermex Subsidiaries is a corporation duly incorporated under the laws of its respective jurisdiction of incorporation (as more particularly set forth in Schedule 3.1.1 of the Silvermex Disclosure Letter), is validly subsisting, has full corporate and legal power and authority to own, lease and operate the properties currently owned, leased and operated by it and to conduct its business as currently conducted and is in good standing. Silvermex and each of the Silvermex Subsidiaries is duly qualified or licensed to do business and is in good standing as a foreign corporation or organization authorized to do business in all jurisdictions in which the character of the properties owned, leased or operated or the nature of the business conducted by it would make such qualification or licensing necessary. No proceedings have been instituted or are pending for the dissolution or liquidation of Silvermex or any Silvermex Subsidiary. True and complete copies of the constating documents of Silvermex and each Silvermex Subsidiary have been provided to First Majestic and no amendments to such constating documents have been authorized.

Incorporation and Organization. Silvermex SilverCrest and each of the Silvermex SilverCrest Subsidiaries is a corporation duly incorporated under the laws of its respective jurisdiction of incorporation (as more particularly set forth in Schedule 3.1.1 of the Silvermex SilverCrest Disclosure Letter), is validly subsisting, has full corporate and legal power and authority to own, lease and operate the properties currently owned, leased and operated by it and to conduct its business as currently conducted and is in good standingstanding with respect to the filing of annual returns or the equivalent. Silvermex SilverCrest and each of the Silvermex SilverCrest Subsidiaries is duly qualified or licensed to do business and is in good standing as a foreign corporation or organization authorized to do business in all jurisdictions in which the character of the properties owned, leased or operated or the nature of the business conducted by it would make such qualification or licensing necessary. No proceedings have been instituted or are pending for the dissolution or liquidation of Silvermex or any Silvermex Subsidiary. True and complete copies of the constating documents of Silvermex SilverCrest and each Silvermex SilverCrest Subsidiary have been provided to First Majestic and no amendments to such constating documents have been authorizedauthorized which have not been provided to First Majestic.