Organizations; Qualification Clause Samples
The "Organizations; Qualification" clause defines the requirements that an entity must meet to be considered a qualified organization under the agreement. Typically, this involves specifying legal status, such as being duly organized and in good standing under applicable laws, and possessing the necessary authority to enter into and perform the contract. For example, a corporation may need to be registered in a particular jurisdiction and have all required licenses. This clause ensures that only legitimate and properly authorized organizations participate, thereby reducing the risk of unenforceable agreements or disputes over a party's legal capacity.
Organizations; Qualification. Seller is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada. Seller has heretofore delivered to Purchaser true, correct and complete copies of the patents and patents pending and/or all other intellectual property relating to this technology and patents, as well as all applications and approval of the Sellers FDA 510K.
Organizations; Qualification. Seller is a corporation duly organized, validly existing and in good standing under the laws of the State of Oklahoma. Seller has heretofore delivered to Purchaser true, correct and complete copies of the Coal Leases of Seller.
Organizations; Qualification. (a) JMC is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada. JMC has all requisite corporate power and authority to own, lease and operate its properties and to carry on its business as now being conducted.
(b) JMC has delivered to JMCorp complete and accurate copies of its Articles of Incorporation and Bylaws, each as amended, minutes of all its directors' and shareholders meetings, and a shareholder list correctly setting forth the record ownership as of the date of this Agreement of all outstanding shares.