Organizational Power Sample Clauses
The Organizational Power clause defines the authority and decision-making capabilities granted to specific individuals or bodies within an organization. Typically, it outlines who has the right to make binding decisions, enter into contracts, or represent the organization in official matters, such as a board of directors or executive officers. By clearly delineating these powers, the clause helps prevent internal disputes and ensures that only authorized parties can act on behalf of the organization, thereby safeguarding its interests and maintaining operational clarity.
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Organizational Power. It has all necessary power and authority to enter into and perform this Agreement, to own all the properties owned by it and to carry on the businesses now conducted or presently proposed to be conducted by it. It has taken all action necessary to authorize this Agreement.
Organizational Power. Each BGC Entity represents, and each Newmark Entity represents, as follows:
(a) each such Person has the requisite corporate or other entity power and authority and has taken all corporate or other entity action necessary in order to execute, deliver and perform this Agreement and each Ancillary Agreement to which it is a party and to consummate the transactions contemplated hereby and thereby; and
(b) this Agreement and each Ancillary Agreement to which it is a party has been duly executed and delivered by it and constitutes a valid and binding agreement of it enforceable in accordance with the terms thereof, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity.
Organizational Power. Purchaser has the requisite organizational power to enter into and perform this Agreement and each other Transaction Document to which it is or will be a party and to consummate the transactions contemplated by this Agreement and such other Transaction Documents except, where the failure to have such power, individually or in the aggregate, has not been and would not reasonably be expected to result in a Purchaser Material Adverse Effect.
Organizational Power. AG&T LP is a limited partnership incorporated and legally existing under the laws of the state of Oregon, and has all requisite power and authority to enter into this Assignment and to perform its obligations hereunder.
Organizational Power. Such Stockholder is a corporation or limited partnership duly organized, validly existing, and in good standing under the laws of its state of organization. Such Stockholder has full power and authority to enter into this Agreement and the other agreements contemplated hereby to which such Stockholder is a party and perform its obligations hereunder and thereunder.
Organizational Power. Holdings has been duly organized and is validly existing under the laws of Delaware and has full power and authority to execute and deliver, and to perform its obligations under, this Agreement and the consummation by it of the transactions contemplated hereby has been duly authorized by all necessary action on its part.
Organizational Power. Authorization 8
Organizational Power. Fortune has all requisite legal and organizational power to execute and deliver this Agreement, to sell and issue the Series B Stock, the Warrant, and the Put, and to carry out and perform its obligations under the terms of this Agreement and the agreements referenced herein.
Organizational Power. Each Parent Party has all requisite organizational power to enter into Agreement, to perform its obligations hereunder and to consummate the Transactions. Parent and each of its Subsidiaries has all requisite organizational power to own, lease, and operate the Parent Assets and to carry on its business as now being conducted, except where the failure to have such power, would not reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect.
Organizational Power. The execution, delivery and performance by such La/Cal ▇▇ ▇▇▇ty of (i) this Agreement, (ii) the Contribution Agreement, and (iii) all other instruments to be executed in connection with the this Agreement and the Contribution Agreement, (all such other instruments, together with the Contribution Agreement, are collectively referred to herein as the "Closing Documents") and the consummation of the transactions hereunder contemplated are within such La/Cal ▇▇ ▇▇▇ty's corporate, partnership or limited liability company powers, have been duly authorized by all necessary corporate, partnership or limited liability company action on the part of such La/Cal ▇▇ ▇▇▇ty and do not and will not (a) violate or be in conflict with any provision of law or any rule, regulation, order, judgment, decree, permit, license, consent, approval or determination currently in effect having applicability to such La/Cal ▇▇ ▇▇▇ty or such La/Cal ▇▇ ▇▇▇ty's articles of incorporation, bylaws, partnership agreement, articles of organization, operating agreement or other governing documents, (b) result in a breach of, constitute or cause a breach or default under any indenture, credit agreement, operating agreement, or any other agreement or instrument to which such La/Cal ▇▇ ▇▇▇ty is a party or by which such La/Cal ▇▇ ▇▇▇ty or the Assets may be currently bound or affected, or (c) result in or require the creation or imposition of any mortgage, lien, pledge, security interest, charge, or other encumbrance upon any of the Assets under any such indenture, credit agreement, operating agreement or other agreement or instrument; and such La/Cal ▇▇ ▇▇▇ty is not in default under any such order, judgment, decree, permit, license, consent, approval, determination, indenture, credit agreement, operating agreement or other agreement, or instrument in any way that now or in the future will materially adversely affect the ability of such La/Cal ▇▇ ▇▇▇ty to perform its obligations under this Agreement or the Closing Documents; and all consents or approvals under such indentures, agreements, and instruments necessary to permit valid execution, delivery, and performance by such La/Cal ▇▇ ▇▇▇ty of this Agreement, the Closing Documents and its obligations thereunder have been obtained. In the case of La/Cal ▇▇, ▇▇ch representation made in this Section 5.16 is subject to the approval of this Agreement by the partners of La/Cal ▇▇ ▇▇▇suant to Section 7.06, below.