Common use of Status, Charter Documents and Licenses Clause in Contracts

Status, Charter Documents and Licenses. (a) Valdy is a corporation duly incorporated and validly existing in all respects under the laws of its jurisdiction of incorporation. Valdy has all necessary corporate power and authority to own, lease or otherwise hold its properties and assets and to carry on its business as it is now being conducted and proposed to be conducted. Complete and correct copies of the constating documents of Valdy have been delivered to INX, the receipt of which is acknowledged. (b) Valdy is duly licensed, registered and qualified as a corporation to do business, is up-to-date in the filing of all required corporate returns and other notices and filings and is otherwise in good standing in all respects, in each jurisdiction where it carries on business.