Status and Authority. IBF is a limited liability company organized and validly existing under the laws of the State of Delaware and has the power to own (a) the shares of capital stock of the Company set forth on the Seller's Disclosure Schedule as owned by IBF and (b) the Seller Debt. IBF has the power and authority to execute and deliver this Agreement and to perform its obligations hereunder, and the execution, delivery and performance of this Agreement have been duly authorized by its sole Manager, which constitutes all necessary action on the part of IBF for such authorization.
Appears in 3 contracts
Samples: Acquisition Agreement (Sunset Brands Inc), Acquisition Agreement (Ibf Vi Guaranteed Income Fund), Acquisition Agreement (Sunset Brands Inc)
