Power and Qualification Sample Clauses
The "Power and Qualification" clause establishes that each party entering into the agreement has the legal authority and capacity to do so. It typically requires parties to confirm that they are duly organized, validly existing, and in good standing under the laws of their jurisdiction, and that they have obtained all necessary approvals to execute and perform the contract. This clause ensures that all parties are properly empowered to enter into the agreement, thereby reducing the risk of future disputes over the validity or enforceability of the contract due to lack of authority.
Power and Qualification. Such Lender is an individual person or an entity and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.
Power and Qualification. The Investor is an individual Person or an entity and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.
Power and Qualification. Guarantor is a duly organized and validly existing Delaware corporation, has the power to own its properties and to carry on its business as is now being conducted, and is duly qualified to do business and is in good standing in every jurisdiction in which the character of the properties owned by it or in which the transaction of its business makes its qualification necessary.