Organisation and Standing. (i) The Customer is a limited liability company duly organised or incorporated and validly existing and, if relevant, in good standing under the laws of the State of Delaware and possesses all franchises, licenses, permits, authorisations and approvals necessary to enable it to use its company name and to own, lease or otherwise hold its properties and assets and to carry on its business as presently conducted and as proposed to be conducted except for such franchises, licenses, permits, authorisations and approvals the failure of which to obtain could not, individually or in the aggregate, have a Material Adverse Effect on it. The Customer is in compliance in all material respects with all terms and conditions of such franchises, licenses, permits, authorisations and approvals.
(ii) The Customer is duly qualified to do business as a limited liability company, in each jurisdiction in which the nature of its business or the ownership, leasing or holding of its properties or assets requires qualification except for such jurisdictions where the failure to be so qualified could not, individually or in the aggregate, have a Material Adverse Effect on it.
Organisation and Standing. (i) The Servicer is an exempted company duly incorporated with limited liability and validly existing under the laws of the Cayman Islands and possesses all franchises, licenses, permits, authorisations and approvals necessary to enable it to use its company name and to own, lease or otherwise hold its properties and assets and to carry on its business as presently conducted and as proposed to be conducted except for such franchises, licenses, permits, authorisations and approvals the failure of which to obtain could not, individually or in the aggregate, have a Material Adverse Effect on it. The Servicer is in compliance in all material respects with all terms and conditions of such franchises, licenses, permits, authorisations and approvals;
(ii) The Servicer is duly qualified to do business as a limited liability company, in each jurisdiction in which the nature of its business or the ownership, leasing or holding of its properties or assets requires qualification except for such jurisdictions where the failure to be so qualified could not, individually or in the aggregate, have a Material Adverse Effect on it.
Organisation and Standing. It is a national banking association chartered under the laws of the United States of America and it has the full corporate power and authority to own its assets and to carry on its business as presently conducted and to perform its obligations hereunder.
Organisation and Standing. Each Company Shareholder, if not an individual person, is an entity duly organised, validly existing and in good standing under the Laws of the jurisdiction of its formation and has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted.
Organisation and Standing. Each Seller is validly organised, in existence and duly registered under the laws of its jurisdiction of organisation and has full power to conduct its business as conducted at the date of this Agreement.
Organisation and Standing. 1.1 The Buyer is validly incorporated, in existence and duly registered under the laws of its jurisdiction of incorporation and has full power to conduct its business as conducted at the date of this Agreement.
1.2 The Buyer is not insolvent or bankrupt or unable to pay its debts within the meaning of section 123 (1) or (2) of the Insolvency Act 1986 (or equivalent law of any jurisdiction in which the Buyer is incorporated or resident, as applicable).
1.3 No order has been made and no resolution has been passed for the winding up of of the Buyer or for a liquidator to be appointed in respect of it and no petition has been presented and no meeting has been convened for the purposes of winding up the Buyer in any way.
Organisation and Standing. Purchaser is a corporation duly organised, validly existing and in good standing under Bermuda law and has full corporate power and authority to conduct all of the activities being conducted by it.
Organisation and Standing. Each of Normandy and each of its Subsidiaries is a corporation, partnership or other legal entity duly organised and validly existing under the laws of the jurisdiction in which it is organised and has the requisite power and authority to carry on its business as now being conducted. Each of Normandy and each of its Subsidiaries is duly qualified or licensed to do business in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such qualification or licensing necessary, other than where the failure to be so qualified or licensed, either individually or in the aggregate, would not result in a Material Adverse Effect upon Normandy.
Organisation and Standing. The Seller is a shareholder and record owner of the issued and outstanding shares of the capital of the Company, which is a company duly organized, validly existing and in good standing under the laws of France and has the corporate power and authority to carry on its business as it is now being conducted.
Organisation and Standing. Seller and the Company each is a corporation duly organised, validly existing and in good standing under its jurisdiction of incorporation and each has full corporate power and authority to conduct all of the activities being conducted by each of them.
