Common use of Organization of VCI and Video Sub Clause in Contracts

Organization of VCI and Video Sub. Each of VCI and VCI Sub is a --------------------------------- corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and California, respectively, has full corporate power and authority to conduct its business as it is presently being conducted and to own, lease and operate its properties and assets, and is duly qualified to do business and is in good standing in each jurisdiction in which the ownership of its property or the conduct of its business requires such qualification, except for jurisdictions in which such failure to be so qualified or to be in good standing would not result in a Material Adverse Change to VCI or its business.

Appears in 3 contracts

Samples: Merger Agreement (Video City Inc), Merger Agreement (Video City Inc), Merger Agreement (Video City Inc)

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Organization of VCI and Video Sub. Each of VCI and VCI Sub is a --------------------------------- corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and CaliforniaColorado, respectively, has full corporate power and authority to conduct its business as it is presently being conducted and to own, lease and operate its properties and assets, and is duly qualified to do business and is in good standing in each jurisdiction in which the ownership of its property or the conduct of its business requires such qualification, except for jurisdictions in which such failure to be so qualified or to be in good standing would not result in a Material Adverse Change to VCI or its business.

Appears in 1 contract

Samples: Merger Agreement (Video City Inc)

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Organization of VCI and Video Sub. Each of VCI and VCI Sub is a --------------------------------- corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and California, respectively, has full corporate power and authority to conduct its business as it is presently being conducted and to own, lease and operate its properties and assets, and is duly qualified to do business and is in good standing in each jurisdiction in which the ownership of its property or the conduct of its business requires such qualification, except for jurisdictions in which such failure to be so qualified or to be in good standing would not result in a Material Adverse Change to VCI or its business.to

Appears in 1 contract

Samples: Merger Agreement (Video City Inc)

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