Structure and Standing Sample Clauses
The 'Structure and Standing' clause defines the legal form and authority of the parties entering into the agreement. It typically specifies whether each party is a corporation, partnership, or other entity, and confirms that each has the legal capacity and proper authorization to enter into the contract. By establishing these facts, the clause ensures that all parties are validly constituted and have the standing necessary to fulfill their contractual obligations, thereby reducing the risk of disputes over enforceability or authority.
Structure and Standing. Each party represents and warrants that it is duly organized as a series of a statutory trust, validly existing and in good standing under the laws of the State of Delaware, and has the power to own all of its properties and assets and conduct its business.
Structure and Standing. Each party represents and warrants that it is duly organized as a Maryland corporation, is validly existing and in good standing under the laws of the State of Maryland, and has the power to own all of its properties and assets and conduct its business.
Structure and Standing. The Transferring Trust is a business trust duly organized, validly existing and in good standing under the laws of the Commonwealth of Massachusetts and has power to own all of its properties and assets and to carry out this Agreement.
Structure and Standing. The Acquiring Trust is a statutory trust duly organized, validly existing and in good standing under the laws of the State of Delaware and has power to own its properties and assets and to carry out this Agreement.
Structure and Standing. Each party represents and warrants that it is duly organized as a series of a business trust, validly existing and in good standing under the laws of the Commonwealth of Massachusetts, and has the power to own all of its properties and assets and conduct its business.
Structure and Standing. Each Fund represents and warrants that it is duly organized as a series of a statutory trust, validly existing and in good standing under the laws of the State of Delaware, and has the power to own all of its properties and assets and conduct its business.