Common use of Legal Status Clause in Contracts

Legal Status. Borrower is a corporation duly incorporated, validly existing, and in good standing under the laws of the State of Delaware. Borrower is qualified or licensed to do business, and is in good standing as a foreign corporation in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.

Appears in 7 contracts

Samples: Term Credit Agreement (Pro Elite Inc), Term Credit Agreement (Lucys Cafe Inc), Term Credit Agreement (Entrada Networks Inc)

AutoNDA by SimpleDocs

Legal Status. Borrower is a corporation duly incorporated, validly existing, organized and existing and in good standing under the laws of the State of Delaware. Borrower , and is qualified or licensed to do business, and is in good standing as a foreign corporation corporation, if applicable, in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Diodes Inc /Del/), Loan Agreement (Iomega Corp), Loan Agreement (Stevens International Inc)

Legal Status. Borrower is a corporation corporation, duly incorporated, validly existing, organized and existing and in good standing under the laws of the State of Delaware. Borrower , and is qualified or licensed to do business, and is in good standing as a foreign corporation business in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Auspex Systems Inc), Line of Credit Agreement (Grill Concepts Inc), Credit Agreement (Interwoven Inc)

Legal Status. Borrower is a corporation duly incorporated, validly existing, organized and in good standing existing under the laws of the State state of Delaware. Borrower and each Subsidiary has the power and authority to own its own Assets and to transact the business in which it is qualified or licensed to do businessengaged, and is properly licensed, qualified to do business and in good standing as a foreign corporation in all jurisdictions every jurisdiction in which such qualification or licensing it is required or in which the doing business where failure to so qualify or to be so licensed could have a material adverse effect on BorrowerMaterial Adverse Effect.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Prospect Medical Holdings Inc), Revolving Credit Agreement (Prospect Medical Holdings Inc)

Legal Status. Borrower is a corporation corporation, duly incorporated, validly existing, organized and existing and in good standing under the laws of the State of Delaware. Borrower , and is qualified or licensed to do business, and is in good standing as a foreign corporation business in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify be qualified or to be so licensed could have a material adverse effect on Borrower.

Appears in 1 contract

Samples: Loan Agreement (Hello Direct Inc /De/)

Legal Status. Borrower is a corporation corporation, duly incorporated, validly existing, organized and existing and ------------ in good standing under the laws of the State state of Delaware. Borrower , and is qualified or licensed to do business, and is in good standing as a foreign corporation business in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.

Appears in 1 contract

Samples: Credit Agreement (Staar Surgical Company)

Legal Status. Borrower is a corporation duly incorporated, validly existing, organized and in good standing existing under the laws of the State of Delaware. Borrower and each Subsidiary has the power and authority to own its own Assets and to transact the business in which it is qualified or licensed to do businessengaged, and is properly licensed, qualified to do business and in good standing as a foreign corporation in all jurisdictions every jurisdiction in which such qualification or licensing it is required or in which the doing business where failure to so qualify or to be so licensed could have a material adverse effect on BorrowerMaterial Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Universal Electronics Inc)

AutoNDA by SimpleDocs

Legal Status. Borrower is a corporation corporation, duly incorporatedorganized, validly existing, and in good standing under the laws of the State of Delaware. Borrower is qualified or licensed to do business, and is in good standing as a foreign corporation in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.

Appears in 1 contract

Samples: Line of Credit Agreement (Humbl, Inc.)

Legal Status. Borrower is a corporation corporation, duly incorporated, validly existing, organized and existing and in good standing under the laws of the State state of Delaware. Borrower , and is qualified or licensed to do business, and is in good standing as a foreign corporation business in all jurisdictions in which such qualification or licensing is Is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.

Appears in 1 contract

Samples: Line of Credit Agreement (Network Peripherals Inc)

Legal Status. Borrower is a corporation corporation, duly incorporated, validly existing, organized and existing and in good standing under the laws of the State state of Delaware. Borrower , and is qualified or licensed to do business, and is in good standing as a foreign corporation business in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.

Appears in 1 contract

Samples: Revolving Line of Credit Agreement (Gametech International Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!