Common use of Organization; Authority; Qualification Clause in Contracts

Organization; Authority; Qualification. The Company is a corporation duly incorporated and validly existing in good standing under the laws of the State of Delaware, is a Certificated Air Carrier, is a Citizen of the United States, has the corporate power and authority, as a debtor in possession under Sections 1107 and 1108 of the Bankruptcy Code, to own or hold under lease its properties and to enter into and perform its obligations under the Operative Documents to which it is a party and is duly qualified to do business as a foreign corporation in good standing in each other jurisdiction in which the failure to so qualify would have a material adverse effect on the consolidated financial condition of the Company and its subsidiaries, considered as a whole, and its jurisdiction of organization (as such term is used in Article 9 of the Uniform Commercial Code as in effect in the State of Delaware) is Delaware.

Appears in 4 contracts

Samples: Participation Agreement (American Airlines Inc), Participation Agreement (Amr Corp), Participation Agreement (American Airlines Inc)

AutoNDA by SimpleDocs

Organization; Authority; Qualification. The Company is a corporation duly incorporated and validly existing in good standing under the laws of the State of Delaware, is a Certificated Air Carrier, is a Citizen of the United States, has the corporate power and authority, as a debtor in possession under Sections 1107 and 1108 of the Bankruptcy Code, authority to own its properties or hold them under lease its properties and to enter into and perform its obligations under this Amendment, the First Indenture Amendment, the Series B Equipment Notes and the other Operative Documents to which it is a party and is duly qualified to do business as a foreign corporation in good standing in each other jurisdiction in which the failure to so qualify would have a material adverse effect on the consolidated financial condition of the Company and its subsidiaries, considered as a whole, and its jurisdiction of organization (as such term is used in Article 9 of the Uniform Commercial Code as in effect in the State of Delaware) is Delaware.

Appears in 3 contracts

Samples: Participation Agreement (Jetblue Airways Corp), Participation Agreement (Delta Air Lines Inc /De/), Participation Agreement (Delta Air Lines Inc /De/)

Organization; Authority; Qualification. The Company is a corporation duly incorporated and validly existing in good standing under the laws of the State of Delaware, is a Certificated Air Carrier, is a Citizen of the United States, has the corporate power and authority, as a debtor in possession under Sections 1107 and 1108 of the Bankruptcy Code, authority to own or hold under lease its properties and to enter into and perform its obligations under this Amendment, the First Indenture Amendment, the Series B Equipment Notes and the other Operative Documents to which it is a party and is duly qualified to do business as a foreign corporation in good standing in each other jurisdiction in which the failure to so qualify would have a material adverse effect on the consolidated financial condition of the Company and its subsidiaries, considered as a whole, and its jurisdiction of organization (as such term is used in Article 9 of the Uniform Commercial Code as in effect in the State of Delaware) is Delaware.

Appears in 3 contracts

Samples: Note Purchase Agreement (American Airlines Inc), Note Purchase Agreement (American Airlines Inc), Note Purchase Agreement (American Airlines Inc)

Organization; Authority; Qualification. The Company is a corporation duly incorporated and validly existing in good standing under the laws of the State of Delaware, is a Certificated Air Carrier, is a Citizen of the United States, has the corporate power and authority, as a debtor in possession under Sections 1107 and 1108 of the Bankruptcy Code, authority to own or hold under lease its properties and to enter into and perform its obligations under this Aircraft Security Agreement, the Operative Documents applicable Aircraft Security Agreement Supplement describing such Aircraft and the applicable Manufacturer’s Consent relating to which it is a party such Aircraft and is duly qualified to do business as a foreign corporation in good standing in each other jurisdiction in which the failure to so qualify would have a material adverse effect on the consolidated financial condition of the Company and its subsidiaries, considered as a whole, and its jurisdiction of organization (as such term is used in Article 9 of the Uniform Commercial Code as in effect in the State of Delaware) is Delaware.

Appears in 2 contracts

Samples: Aircraft Security Agreement (American Airlines Inc), Aircraft Security Agreement (American Airlines Inc)

AutoNDA by SimpleDocs

Organization; Authority; Qualification. The Company is a corporation duly incorporated and validly existing in good standing under the laws of the State of Delaware, is a Certificated Air Carrier, is a Citizen of the United States, has the corporate power and authority, as a debtor in possession under Sections 1107 and 1108 of the Bankruptcy Code, authority to own its properties or hold them under lease its properties and to enter into and perform its obligations under this Amendment, the First Indenture Amendment, the Series C Equipment Notes and the other Operative Documents to which it is a party and is duly qualified to do business as a foreign corporation in good standing in each other jurisdiction in which the failure to so qualify would have a material adverse effect on the consolidated financial condition of the Company and its subsidiaries, considered as a whole, and its jurisdiction of organization (as such term is used in Article 9 of the Uniform Commercial Code as in effect in the State of Delaware) is Delaware.

Appears in 2 contracts

Samples: Participation Agreement (Spirit Airlines, Inc.), Participation Agreement (Spirit Airlines, Inc.)

Organization; Authority; Qualification. The Company is a corporation duly incorporated and validly existing in good standing under the laws of the State of Delaware, is a Certificated Air Carrier, is a Citizen of the United States, has the corporate power and authority, as a debtor in possession under Sections 1107 and 1108 of the Bankruptcy Code, authority to own or hold under lease its properties and to enter into and perform its obligations under this Amendment, the Second Indenture Amendment, the Series C Equipment Notes and the other Operative Documents to which it is a party and is duly qualified to do business as a foreign corporation in good standing in each other jurisdiction in which the failure to so qualify would have a material adverse effect on the consolidated financial condition of the Company and its subsidiaries, considered as a whole, and its jurisdiction of organization (as such term is used in Article 9 of the Uniform Commercial Code as in effect in the State of Delaware) is Delaware.

Appears in 1 contract

Samples: Participation Agreement (American Airlines Inc)

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