Organization; Authority; Power Sample Clauses

Organization; Authority; Power. The Grantee is a private, nonprofit charitable organization and nonstock corporation organized pursuant to Chapter 181 of the Wisconsin Statutes with its principal place of business located at 0000 Xxxxxxx 00, Xxxxxxxxx Xxxxx, XX 00000. Grantee, by its Board of Directors adopted a Resolution, attached hereto as Exhibit “D” setting forth the full legal right and power to authorize, execute and deliver this Agreement, to receive the requested Grant in an amount not to exceed $175,000 as identified in Exhibit “C”, to undertake and implement the use of the Grant funds described herein and to conduct all transactions contemplated by the foregoing including without limitation, compliance with the applicable federal laws and regulations associated with ARPA funds, compliance with applicable state and local laws and regulations associated with the Project Scope, recordkeeping and reporting required by ARPA. Xxxxxxx has duly and validly authorized the execution and delivery of the submittal referred to as Exhibit “B” and this Agreement, and has provided a copy of said authorization to the County and by executing this Agreement represents that it has all the necessary power and authority to do so and to bind the Grantee to its terms and conditions.
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Organization; Authority; Power. The Grantee is a nonprofit 501(c)3 organization and a nonstock corporation organized pursuant to Chapter 181 of the Wisconsin Statutes, with a principal place of business located at 000 X. Xxxxxx Xxxxxx, Xxxxx 0, X.X. Box 33, Beaver Dam, Wisconsin 53916, with the full legal right and power to authorize, execute and deliver this Agreement, to receive the awarded Grant in an amount not to exceed $380,000 as identified in Exhibit “C”, to undertake and implement the use of the Grant funds described herein and to conduct all transactions contemplated by the foregoing including without limitation, compliance with the applicable federal laws and regulations associated with ARPA funds, compliance with applicable state and local laws and regulations associated with the Project Scope, recordkeeping and reporting required by ARPA. Xxxxxxx has duly and validly authorized the execution and delivery of the submittal referred to as Exhibit “B” and this Agreement, and has provided a copy of said authorization to the County and by executing this Agreement represents that it has all the necessary power and authority to do so and to bind the Grantee to its terms and conditions.
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Organization; Authority; Power. The Grantee is a local unit of government, 000 X. Xxxxx Xxxxxx, XX Xxx 000, Xxxxxx, XX 00000, with the full legal right and power to authorize, execute and deliver this Agreement, to receive the requested Grant in an amount not to exceed $20,000 as identified in Exhibit “C”, to undertake and implement the use of the Grant funds described herein and to conduct all transactions contemplated by the foregoing including without limitation, compliance with the applicable federal laws and regulations associated with ARPA funds, compliance with applicable state and local laws and regulations associated with the Project Scope, recordkeeping and reporting required by ARPA. Xxxxxxx has duly and validly authorized the execution and delivery of the submittal referred to as Exhibit “B” and this Agreement, and has provided a copy of said authorization to the County and by executing this Agreement represents that it has all the necessary power and authority to do so and to bind the Grantee to its terms and conditions. As evidence of its authority, Xxxxxxx has adopted a motion authorizing entering into this Agreement with the County at its meeting on November 3, 2022, a copy of the meeting minutes are attached hereto as Exhibit “D”.
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Organization; Authority; Power. The Grantee is a municipality located at located at 000 X. Xxxx Xxxxxx, Xxxxxxx, XX 00000 with the full legal right and power to authorize, execute and deliver this Agreement, to receive the requested Grant in an amount not to exceed $350,000 as identified in Exhibit “C”, to undertake and implement the use of the Grant funds described herein and to conduct all transactions contemplated by the foregoing including without limitation, compliance with the applicable federal laws and regulations associated with ARPA funds, compliance with applicable state and local laws and regulations associated with the Project Scope, recordkeeping and reporting required by ARPA. Grantee has duly and validly authorized the execution and delivery of the submittal referred to as Exhibit “B” as evidenced by its resolution dated July 26, 2022 as Resolution No. 2022-06 titled Resolution Encouraging Dodge County Board Approval of ARPA Funds for the City of Horicon, attached hereto as Exhibit “D”, and this Agreement, and has provided a copy of said authorization to the County and by executing this Agreement represents that it has all the necessary power and authority to do so and to bind the Grantee to its terms and conditions.
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Organization; Authority; Power. As applicable, the representing party is (a) duly formed and validly existing and in good standing under the laws of the State of its formation or incorporation, as the case may be; and (b) has full power, legal capacity and authority to execute and deliver this Agreement and the documents contemplated hereby.
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Organization; Authority; Power. The Grantee is a public body and a body corporate and politic, exercising public powers pursuant to Section 59.53(22), Wis. Stats. and to the extent applicable Sections 66.1201 to 66.1211, Wis. Stats., with the full legal right and power to authorize, execute and deliver this Agreement, to receive the requested Grant in an amount not to exceed $350,000 as identified in Exhibit “B”, to undertake and implement the use of the Grant funds described herein and to conduct all transactions contemplated by the foregoing including without limitation, compliance with the applicable federal laws and regulations associated with ARPA funds, compliance with applicable state and local laws and regulations associated with the Project Scope, recordkeeping and reporting required by ARPA. Xxxxxxx has duly and validly authorized the execution and delivery of the request referred to as Exhibit “C” and this Agreement, and has provided a copy of said authorization to the County and by executing this Agreement represents that it has all the necessary power and authority to do so and to bind the Grantee to its terms and conditions.
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Organization; Authority; Power. The Grantee is an organization comprised of the following units of local government: Village of Reeseville, Village of Xxxxxx, Village of Xxxxxx, Town of Xxxxxx, Town of Portland, Town of Clyman, Town of Xxxx along with the Reeseville, Clyman and Lowell Fire Departments and the Lowell/Reeseville First Responders; formed and governed by an Intergovernmental Agreement dated December 20, 2021, with a mailing address of P.O. Box 46, Reeseville, Wisconsin 53579, a copy of which is attached hereto as Exhibit “E” with the full legal right and power to authorize, execute and deliver this Agreement, to receive the requested Grant in an amount not to exceed $432,000 as identified in Exhibit “C”, to undertake and implement the use of the Grant funds described herein and to conduct all transactions contemplated by the foregoing including without limitation, compliance with the applicable federal laws and regulations associated with ARPA funds, compliance with applicable state and local laws and regulations associated with the Project Scope, recordkeeping and reporting required by ARPA. Xxxxxxx has duly and validly authorized the execution and delivery of the submittal referred to as Exhibit “B” and this Agreement, and has provided a copy of said authorization to the County and by executing this Agreement represents that it has all the necessary power and authority to do so and to bind the Grantee to its terms and conditions. In making this Agreement with CLR Fire and Rescue Group, County relies on the validity of the Intergovernmental Agreement, Exhibit “E”, as its representation regarding the authority and capability of the CLR Fire and Rescue Group to fulfill its obligations hereunder.
Sample 1
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Organization; Authority; Power. The Grantee is a local unit of government located at 000 Xxxxxx Xxxxxx, P.O. Box 129, Clyman, Wisconsin 53016. The Village of Xxxxxx Board adopted a motion at a Special Board meeting on January 27, 2023 authorizing entering into this Agreement, a copy of the meeting minutes from said meeting is attached hereto as Exhibit “D” and incorporated herein, evidencing the Village’s legal right and power to authorize, execute and deliver this Agreement, to receive the requested Xxxxx in an amount not to exceed $410,400 as identified in Exhibit “C”, to undertake and implement the use of the Grant funds described herein and to conduct all transactions contemplated by the foregoing including without limitation, compliance with the applicable federal laws and regulations associated with ARPA funds, compliance with applicable state and local laws and regulations associated with the Project Scope, recordkeeping and reporting required by ARPA. Xxxxxxx has duly and validly authorized the execution and delivery of the submittal referred to as Exhibit “B” and this Agreement, and has provided a copy of said authorization to the County and by executing this Agreement represents that it has all the necessary power and authority to do so and to bind the Grantee to its terms and conditions.
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Related to Organization; Authority; Power

  • Organization; Authority Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

  • Organization; Authorization The Holder is duly organized, validly existing and in good standing under the laws of its state of formation and has the requisite organizational power and authority to enter into and perform its obligations under this Agreement.

  • Corporation Authorization The execution, delivery and performance by Parent of this Agreement and the consummation by Parent of the transactions contemplated hereby are within the corporate powers of Parent and have been duly authorized by all necessary corporate action. This Agreement constitutes a valid and binding agreement of Parent.

  • Due Organization, Authorization Power and Authority. Borrower and each of its Subsidiaries is duly existing and in good standing as a Registered Organization in its jurisdictions of organization or formation and Borrower and each of its Subsidiaries is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct of its businesses or its ownership of property requires that it be qualified except where the failure to do so could not reasonably be expected to have a Material Adverse Change. In connection with this Agreement, Borrower and each of its Subsidiaries has delivered to Collateral Agent a completed perfection certificate signed by an officer of Borrower or such Subsidiary (each a “Perfection Certificate” and collectively, the “Perfection Certificates”). Borrower represents and warrants that (a) Borrower and each of its Subsidiaries’ exact legal name is that which is indicated on its respective Perfection Certificate and on the signature page of each Loan Document to which it is a party; (b) Borrower and each of its Subsidiaries is an organization of the type and is organized in the jurisdiction set forth on its respective Perfection Certificate; (c) each Perfection Certificate accurately sets forth each of Borrower’s and its Subsidiaries’ organizational identification number or accurately states that Borrower or such Subsidiary has none; (d) each Perfection Certificate accurately sets forth Borrower’s and each of its Subsidiaries’ place of business, or, if more than one, its chief executive office as well as Borrower’s and each of its Subsidiaries’ mailing address (if different than its chief executive office); (e) Borrower and each of its Subsidiaries (and each of its respective predecessors) have not, in the past five (5) years, changed its jurisdiction of organization, organizational structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection Certificates pertaining to Borrower and each of its Subsidiaries, is accurate and complete (it being understood and agreed that Borrower and each of its Subsidiaries may from time to time update certain information in the Perfection Certificates (including the information set forth in clause (d) above) after the Effective Date to the extent permitted by one or more specific provisions in this Agreement); such updated Perfection Certificates subject to the review and approval of Collateral Agent. If Borrower or any of its Subsidiaries is not now a Registered Organization but later becomes one, Borrower shall notify Collateral Agent of such occurrence and provide Collateral Agent with such Person’s organizational identification number within five (5) Business Days of receiving such organizational identification number. The execution, delivery and performance by Borrower and each of its Subsidiaries of the Loan Documents to which it is a party have been duly authorized, and do not (i) conflict with any of Borrower’s or such Subsidiaries’ organizational documents, including its respective Operating Documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law applicable thereto, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or such Subsidiary, or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect) or are being obtained pursuant to Section 6.1(b), or (v) constitute an event of default under any material agreement by which Borrower or any of such Subsidiaries, or their respective properties, is bound. Neither Borrower nor any of its Subsidiaries is in default under any agreement to which it is a party or by which it or any of its assets is bound in which such default could reasonably be expected to have a Material Adverse Change.

  • Organization, Authority and Significant Subsidiaries The Company has been duly incorporated and is validly existing and in good standing under the laws of its jurisdiction of organization, with the necessary power and authority to own, operate and lease its properties and conduct its business as it is being currently conducted, and except as has not, individually or in the aggregate, had and would not reasonably be expected to have a Company Material Adverse Effect, has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification; each subsidiary of the Company that would be considered a “significant subsidiary” within the meaning of Rule 1-02(w) of Regulation S-X under the Securities Act of 1933 (the “Securities Act”), has been duly organized and is validly existing in good standing under the laws of its jurisdiction of organization. The Charter and bylaws of the Company, copies of which have been provided to Treasury prior to the Signing Date, are true, complete and correct copies of such documents as in full force and effect as of the Signing Date and as of the Closing Date.

  • Organization, Authority and Qualification (a) Parent is a corporation duly incorporated, validly existing and in good standing under the Laws of the State of Delaware and has all necessary corporate power and authority to (i) own, operate or lease the properties, rights and assets owned, operated or leased by it that are related to the Business (including the Purchased Assets or the Interests, as applicable) and to carry on the Business as it has been and is currently conducted, (ii) enter into, execute and deliver this Agreement and the Ancillary Agreements to which it is or will be a party, (iii) carry out its obligations hereunder and thereunder and (iv) consummate the transactions contemplated hereby and thereby. Parent is duly authorized, licensed or qualified to do business and is in good standing (or its local equivalent) under the Laws in each jurisdiction in which the properties, rights or assets owned or leased by it or the operation of the Business by it makes such authorization, licensing or qualification necessary, except to the extent that the failure to be so licensed, qualified or in good standing has not had and would not have a Seller Material Adverse Effect. Assuming the accuracy of Buyer’s representation in Section 4.10, the execution and delivery by Parent of this Agreement and the Ancillary Agreements to which it is or will be a party, the performance by Parent of its obligations hereunder and thereunder and the consummation by Parent of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of Parent. This Agreement has been, and upon their execution each of the Ancillary Agreements to which Parent is a party will be, (i) duly and validly executed and delivered by Parent, and, (ii) assuming due authorization, execution and delivery by each of the other parties hereto and thereto (other than Affiliates of Parent), a legal, valid and binding obligation of Parent, enforceable against it in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar Laws affecting enforcement of creditors’ rights generally and by general principles of equity (whether applied in a proceeding at law or in equity) (the “Enforceability Exceptions”). (b) Each Seller has been duly incorporated or formed, is a validly existing legal entity and, where applicable, is in good standing (or its local equivalent) under the Laws of the jurisdiction of its incorporation or formation, and has all necessary corporate (or other) power and authority to (i) own, operate or lease the properties, rights and assets now owned, operated or leased by it that are related to the Business (including the Purchased Assets or the Interests, as applicable) and to carry on the Business as it has been and is currently conducted, (ii) enter into, execute and deliver this Agreement and the Ancillary Agreements to which it is or will be a party, (iii) carry out its obligations hereunder and thereunder and (iv) consummate the transactions contemplated hereby and thereby. Each Seller is duly authorized, licensed or qualified to do business and is in good standing (or its local equivalent) under the Laws in each jurisdiction in which the properties, rights or assets owned or leased by it or the operation of the Business by it makes such authorization, licensing or qualification necessary, except to the extent that the failure to be so licensed, qualified or in good standing has not had and would not have a Seller Material Adverse Effect. Each Seller is a wholly owned, direct or indirect, Subsidiary of Parent. The execution and delivery by each Seller of this Agreement and the Ancillary Agreements to which it is or will be a party, the performance by such Seller of its obligations hereunder and thereunder and the consummation by such Seller of the transactions contemplated hereby and thereby will be, when executed as provided in this Agreement, duly authorized by all requisite corporate (or other) action on the part of such Seller. This Agreement and each Ancillary Agreement to which a Seller is a party will be, when executed as provided in this Agreement, (i) duly and validly executed and delivered by such Seller and, (ii) assuming due authorization, execution and delivery by each of the other parties hereto and thereto (other than Parent or any Affiliates of Parent), a legal, valid and binding obligation of such Seller enforceable against it in accordance with its terms, except as such enforcement may be limited by the Enforceability Exceptions.

  • Information Authorization Your enrollment in the applicable Service may not be fulfilled if we cannot verify your identity or other necessary information. Through your enrollment in or use of each Service, you agree that we reserve the right to request a review of your credit rating at our own expense through an authorized bureau. In addition, and in accordance with our Privacy Policy, you agree that we reserve the right to obtain personal information about you, including without limitation, financial information and transaction history regarding your Eligible Transaction Account. You further understand and agree that we reserve the right to use personal information about you for our and our Service Providers’ everyday business purposes, such as to maintain your ability to access the Service, to authenticate you when you log in, to send you information about the Service, to perform fraud screening, to verify your identity, to determine your transaction limits, to perform collections, to comply with laws, regulations, court orders and lawful instructions from government agencies, to protect the personal safety of subscribers or the public, to defend claims, to resolve disputes, to troubleshoot problems, to enforce this Agreement, to protect our rights and property, and to customize, measure, and improve the Service and the content and layout of the Site. Additionally, we and our Service Providers may use your information for risk management purposes and may use, store and disclose your information acquired in connection with this Agreement as permitted by law, including (without limitation) any use to effect, administer or enforce a transaction or to protect against or prevent actual or potential fraud, unauthorized transactions, claims or other liability. We and our Service Providers shall have the right to retain such data even after termination or expiration of this Agreement for risk management, regulatory compliance, or audit reasons, and as permitted by applicable law for everyday business purposes. In addition, we and our Service Providers may use, store and disclose such information acquired in connection with the Service in statistical form for pattern recognition, modeling, enhancement and improvement, system analysis and to analyze the performance of the Service. The following provisions in this Section apply to certain Services:

  • Due Organization, Authorization; Power and Authority Borrower is duly existing and in good standing as a Registered Organization in its jurisdiction of formation and is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct of its business or its ownership of property requires that it be qualified except where the failure to do so could not reasonably be expected to have a material adverse effect on Borrower’s business. In connection with this Agreement, Borrower has delivered to Bank a completed certificate signed by Borrower, entitled “Perfection Certificate” (the “Perfection Certificate”). Borrower represents and warrants to Bank that (a) Borrower’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof; (b) Borrower is an organization of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s organizational identification number or accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s place of business, or, if more than one, its chief executive office as well as Borrower’s mailing address (if different than its chief executive office); (e) Borrower (and each of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete (it being understood and agreed that Borrower may from time to time update certain information in the Perfection Certificate after the Effective Date to the extent permitted by one or more specific provisions in this Agreement). If Borrower is not now a Registered Organization but later becomes one, Borrower shall promptly notify Bank of such occurrence and provide Bank with Borrower’s organizational identification number. The execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not (i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect), or (v) conflict with, contravene, constitute a default or breach under, or result in or permit the termination or acceleration of, any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could reasonably be expected to have a material adverse effect on Borrower’s business.

  • Organization; Authority; Enforceability (a) Each of the SPAC and Merger Sub is a corporation and is duly incorporated, validly existing and in good standing under the Laws of the State of Delaware. (b) The SPAC Parties have all the requisite corporate power and authority to own, lease and operate their respective assets and properties and to carry on their respective businesses as presently conducted in all respects. (c) Each SPAC Party is duly qualified, licensed or registered to do business under the Laws of each jurisdiction in which the conduct of its business or location of its assets and/or properties makes such qualification necessary, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to be material to the SPAC Parties, taken as a whole. (d) No SPAC Party is in violation of any of its Governing Documents. No SPAC Party is the subject of any bankruptcy, dissolution, liquidation, reorganization or similar proceeding. (e) Each SPAC Party has the requisite corporate power and authority to execute and deliver this Agreement and the Ancillary Agreements to which it is or will be a party and to perform its obligations hereunder and thereunder, and, subject to the receipt of the Required Vote approving the Required SPAC Stockholder Voting Matters, to consummate the Transactions. The execution, delivery and performance of this Agreement and the Ancillary Agreements and, subject to the receipt of the Required Vote approving the Required SPAC Stockholder Voting Matters, the consummation of the Transactions, have been duly authorized by all necessary corporate actions, as applicable, including by the SPAC Board and the board of directors of Merger Sub. This Agreement has been (and each of the Ancillary Agreements to which any SPAC Party is or will be a party is or will be) duly executed and delivered by such SPAC Party and are or will be Enforceable against such SPAC Party. No other corporate actions on the part of any SPAC Party, except for the Required Vote approving the Required SPAC Stockholder Voting Matters, are necessary to approve and authorize the execution, delivery or performance of this Agreement and the Ancillary Agreements or the consummation of the Transactions. (f) A correct and complete copy of the Governing Documents of the SPAC, as in effect on the Execution Date, are filed as (i) Exhibit 3.1 to the SPAC’s Form 8-K filed with the SEC on January 24, 2022, as amended with an amendment filed as Exhibit 10.11 to the SPAC’s Form 8-K filed with the SEC on April 21, 2023, and (ii) Exhibit 3.4 to the Form S-1 filed with the SEC on August 6, 2021.

  • Organization, Authority and Qualification of the Company (a) The Company is a corporation duly organized and validly existing, and, if it had filed audited financial statements for 2004, 2005 and 2006, it would be in good standing under the Laws of the jurisdiction of its incorporation and has all necessary power and authority to enter into this Agreement and the Stockholder Agreement, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The Company is duly licensed or qualified to do business and is in good standing in each jurisdiction in which the properties owned or leased by it or the operation of its business makes such licensing or qualification necessary, except jurisdictions in which the failure to be licensed or qualified would not, individually or in the aggregate, have a material adverse effect on the Company and the Subsidiaries taken as a whole. The execution and delivery of this Agreement and the Stockholder Agreement by the Company, the performance by the Company of its obligations hereunder and thereunder and the consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of the Company. This Agreement has been, and upon its execution and delivery at the Closing, the Stockholder Agreement will have been, duly executed and delivered by the Company, and (assuming due authorization, execution and delivery by the Investor) this Agreement constitutes, and upon its execution the Stockholder Agreement will constitute, legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms, subject to the effect of any applicable bankruptcy, insolvency (including all Laws relating to fraudulent transfers), reorganization, moratorium or similar Laws affecting creditors’ rights generally and subject to the effect of general principles of equity (regardless of whether considered in a proceeding at law or in equity) or any applicable conservatorship or receivership provisions of the FDIA (“FDIA Limitations”). (b) The Company has not taken any action that in any material respect conflicts with, constitutes a default under or results in a violation of any provision of its Articles of Incorporation or Bylaws (or similar organizational documents). True and complete copies of the Articles of Incorporation and Bylaws of the Company, each as in effect on the date hereof, have been delivered by the Company to the Investor.

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