Common use of LEGAL STATUS OF THE COMPANY Clause in Contracts

LEGAL STATUS OF THE COMPANY. 2.1 The Company becomes the legal entity from the moment of state registration: it owns separate property by the right of ownership and other rights, has own balance, settlements, currency and other accounts in bxxxx, seal with full name of the Company and identification code, corner and other stamps, trademark, letterhead and other elements that may be essential for economic transactions carried out by the Company. The Company may own trade and service marks (trademarks) registered in accordance with the applicable procedure, commercial (corporate) name and other objects of intellectual property rights in the field of economic activities of the Company. 2.2 The Company may establish subsidiary companies, branches and representatives acting on behalf of the Company and on the grounds of provisions approved by the Meeting of Participants, both in Ukraine and abroad. 2.3 The Company may be a Participant/shareholder in business companies, groups of companies, consortiums, associations and other voluntary associations. 2.4 Participants of the Company bear no liability for the obligations of the Company and bear the risk of expenses arising from the activities of the Company within the limits of their contributions. The Participants of the Company that have not made their contribution in full are held liable for the obligations of the Company jointly, within the limits of such non-paid contribution of each Participant. 2.5 The Company bears no liability for the obligations of the State and the State bears no liability for the obligations of the Company. 2.6 The Company bears liability for its obligations with all property owned by it provided that this property may be the subject of levy execution in accordance with legislation. 2.7 The Company is not liable for the obligations of its subsidiary companies, and these companies are not liable for the obligations of the Company. 2.8 With the purpose of corporate objective of the company and the subject of activities determined by the Article 3 of this Charter the Company has the right to carry out any type of activity permitted by the legislation of Ukraine and, without limitation of foregoing, the company is entitled (as far as it complies with current legislation of Ukraine): 2.8.1 Purchase share(s) in any company or legal entity and participate in establishment, management, supervision or control of any Company or legal entity; 2.8.2 Purchase, acquire and own shares, bonds, debentures, obligations and securities issued by any Ukrainian of foreign legal entity or public institution in compliance with current legislation of Ukraine; 2.8.3 Sell, improve, manage, develop, exchange, lend, pledge or dispose of any part of property, assets of rights of the Company; 2.8.4 Sell and transfer to other companies, institutions, organizations, exchange, lend, render for temporary use with no charge, or on loan basis any buildings, constructions, equipment, means of transport, inventory, raw materials and other tangible assets owned by the Company and to transfer them from the balance; 2.8.5 Purchase, receive from cession, granting, rent or otherwise acquire property or property rights from companies, institutions and organizations and from natural persons; 2.8.6 Apply for license for acquisition, purchase or otherwise acquire, use, transfer, sell and generally operate with patents, patent rights, trade and service marks (trademarks), designs and any other intellectual property objects; 2.8.7 Purchase (in whole or in part) business, goodwill or property of any natural person or legal entity; 2.8.8 Independently participate in foreign-economic activities necessary with the purpose of objective and subject of activities determined by the Article 3 of this Charter; 2.8.9 Advertise, organize, carry out and participate in exhibitions, seminars, workshops, symposiums and other events, and to participate in trade fairs of any kind, both in Ukraine and abroad; 2.8.10 Take obligations under credits both in convertible currency and in hryvnas, received from Ukrainian and foreign banks, financial institutions, and other Ukrainian or foreign banks, financial institutions and other Ukrainian and/or foreign entities and guarantee reimbursement of any loaned or borrowed funds with all or any part of Company’s property and assets; 2.8.11 Conclude contracts, agreements and other transactions on its behalf with Ukrainian and foreign associations, enterprises, joint-stock companies, organizations, unions, institutions, cooperative societies, corporations, companies and other legal entities and natural persons, including but not limiting to export and import transactions and other legal operations of any kind, that are connected with purchase, sale, licensing, rendering managerial services, crediting, contracting, construction, servicing, warranty, surety commitment, agency activities, employment assistance, barter, commission, joint activities, transportation and storage etc.; 2.8.12 Build, purchase, dispose, sell, lease or rent movable and real property of any kind, including acquiring the tenant right and/or title for land, buildings and constructions (or their parts) in compliance with current legislation of Ukraine; 2.8.13 acquire (or acquire the right of use of) material and non-material rights and provide legal protection of all rights and interests owned by the Company; 2.8.14 act as plaintiff and respondent at any courts, economical courts, arbitration courts and/or international arbitrage and conclude amicable settlement agreements; 2.8.15 open and operate bank accounts in Ukraine and abroad, in hryvnas and in foreign currency; 2.8.16 transfer information within the territory of Ukraine and abroad via written correspondence, telegraph, facsimile, phone, e-mail and other means of communication; 2.8.17 issue, sign, execute and discount promissory notes, bills of lading, securities and other documents that may be purchased and transmitted; 2.8.18 appoint with full or limited powers, agents, attorneys and other persons or companies for execution and completion of any objectives of the Company on the grounds of the power of attorney as provided by this Charter; 2.8.19 amalgamate with any other company; 2.8.20 render assistance to the Company and/or its separate subdivisions in registration and recognition of the Company outside registered location and in any foreign state or place; 2.8.21 exchange hryvnas in any foreign currency and vice versa, in compliance with current legislation of Ukraine; 2.8.22 carry out all and any kinds of activities determined by this Charter as the grantor, agent, attorney, contractor or otherwise; 2.8.23 carry out any kinds of economic activities permitted by the current legislation of Ukraine. 2.9 The Company exists on the grounds of operative, administrative and legal independence and operates on the grounds of self-support, on its behalf and on behalf of its Participants. 2.10 The company is governed by the current legislation of Ukraine and this Charter.