Organization of the Olinda Companies Clause Samples
The "Organization of the Olinda Companies" clause defines the legal structure and formation details of the Olinda Companies involved in the agreement. It typically outlines the type of entities (such as corporations, partnerships, or limited liability companies), their jurisdiction of incorporation, and their authority to enter into the contract. This clause ensures that all parties are aware of the organizational status and legal capacity of the Olinda Companies, thereby confirming their ability to fulfill contractual obligations and reducing the risk of disputes over authority or legitimacy.
Organization of the Olinda Companies. Each of the Olinda Companies and its respective jurisdiction of organization is identified in Section 4.1 of the Disclosure Schedules. Each of the Olinda Companies is: (i) duly organized, validly existing, and in good standing under the laws of its jurisdiction of organization; (ii) has all requisite power and authority (whether limited liability company, limited partnership, corporate, or otherwise) to carry on its business as currently conducted; and (iii) is duly qualified to do business in each jurisdiction in which the ownership, operation or leasing of its property or the conduct of its business as currently conducted requires it to be qualified, except, in the cases of clause (iii), where the failure to be so qualified would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. Copies of the Governing Documents of the Olinda Companies, as amended and in effect on the date hereof and on the Closing Date, have been made available to the Buyer and are complete in all material respects.