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Common use of Organization; Subsidiaries Clause in Contracts

Organization; Subsidiaries. (a) The Company is a corporation duly organized and existing in good standing under the laws of the State of Connecticut and has the corporate power to own its property and to carry on its business as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary and where the failure to so qualify could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) The Company does not have any Subsidiaries. Except as set forth on Schedule 3.1(b), the Company does not own, directly or indirectly, or have the right or obligation to acquire, any interest in any business association or other Person.

Appears in 3 contracts

Samples: 15% Secured Note (Appaloosa Management Lp), Secured Note (Appaloosa Management Lp), 15% Secured Note (Appaloosa Management Lp)

Organization; Subsidiaries. (a) The Company is a corporation duly organized and existing in good standing under the laws of the State of Connecticut and has the corporate power to own its property and to carry on its business as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary and where the failure to so qualify could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) The Company does not have any Subsidiaries. Except as set forth on Schedule 3.1(b2.1(b), the Company does not own, directly or indirectly, or have the right or obligation to acquire, any interest in any business association or other Person.

Appears in 2 contracts

Samples: Convertible Note Purchase Agreement (Appaloosa Management Lp), Convertible Note Purchase Agreement (Bio Plexus Inc)

Organization; Subsidiaries. (a) The Company is a corporation duly organized and existing in good standing under the laws of the State of Connecticut and has the corporate power to own its property and to carry on its business as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary and where the failure to so qualify could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) The Company does not have any Subsidiaries. Except as set forth on Schedule 3.1(b), the Company does not own, directly or indirectly, or have the right or obligation to acquire, any interest in any business 4 association or other Person.

Appears in 1 contract

Samples: Secured Note (Bio Plexus Inc)

Organization; Subsidiaries. (a) The Company is a corporation duly organized and existing in good standing under the laws of the State 4 of Connecticut and has the corporate power to own its property and to carry on its business as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary and where the failure to so qualify could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) The Company does not have any Subsidiaries. Except as set forth on Schedule 3.1(b), the Company does not own, directly or indirectly, or have the right or obligation to acquire, any interest in any business association or other Person.

Appears in 1 contract

Samples: 15% Secured Note (Bio Plexus Inc)

Organization; Subsidiaries. (a) The Company is a corporation duly organized and existing in good standing under the laws of the State of Connecticut and has the corporate power to own its property and to carry on its business as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary and where the failure to so qualify couldcould not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) The Company does not have any Subsidiaries. Except as set forth on Schedule 3.1(b2.1(b), the Company does not own, directly or indirectly, or have the right or obligation to acquire, any interest in any business association or other Person.

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (Appaloosa Management Lp)

Organization; Subsidiaries. (a) The Company is a corporation duly organized and existing in good standing under the laws of the State of Connecticut and has the corporate power to own its property and to carry on its business as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary and where the failure to so qualify couldcould not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (ba) The Company does not have any Subsidiaries. Except as set forth on Schedule 3.1(b2.1(b), the Company does not own, directly or indirectly, or have the right or obligation to acquire, any interest in any business association or other Person.

Appears in 1 contract

Samples: Convertible Note Purchase Agreement (Bio Plexus Inc)

Organization; Subsidiaries. (a) The Company is a corporation duly organized and existing in good standing under the laws of the State of Connecticut and has the corporate power to own its property and to carry on its business as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property 4 owned by it makes such qualification necessary and where the failure to so qualify could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) The Company does not have any Subsidiaries. Except as set forth on Schedule 3.1(b), the Company does not own, directly or indirectly, or have the right or obligation to acquire, any interest in any business association or other Person.

Appears in 1 contract

Samples: 15% Secured Note (Bio Plexus Inc)