Common use of Organization and Capitalization Clause in Contracts

Organization and Capitalization. The Buyer is a corporation duly formed and validly existing and in good standing under the laws of the State of Delaware and has all requisite power and lawful authority to (a) enter into this Agreement and to perform its obligations hereunder, (b) own, lease and operate its properties and assets as they are now owned, leased and operated and (c) carry on its business as now conducted and presently proposed to be conducted.

Appears in 4 contracts

Samples: Stock Purchase Agreement (Airxcel Inc), Stock Purchase Agreement (Airxcel Inc), Stock Purchase Agreement (Airxcel Inc)

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Organization and Capitalization. The Buyer is a corporation duly formed and validly existing and in good standing under the laws of the State of Delaware and has all requisite power and lawful authority to (a) enter into this Agreement and to perform its obligations hereunder, (b) own, lease and operate its properties and assets as they are now owned, leased and operated and (c) carry on its business as now conducted and presently proposed to be conducted. The Buyer is duly qualified to transact business in the State of New York.

Appears in 1 contract

Samples: Stock Purchase Agreement (Glenoit Corp)

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