Valid Existence and Power. The Borrower is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization is duly qualified or licensed to transact business in all places where the failure to be so qualified would have a material adverse effect on it. The Borrower and each other Person which is a party to any Loan Document (other than the Lender) has the power to make and perform the Loan Documents executed by it and all such instruments will constitute the legal, valid and binding obligations of such Person, enforceable in accordance with their respective terms, subject only to bankruptcy and similar laws affecting creditors' rights generally.
Appears in 4 contracts
Samples: Loan and Security Agreement (Vector Aeromotive Corp), Share Purchase Agreement (American Dream International LTD), Share Purchase Agreement (Vector Aeromotive Corp)
Valid Existence and Power. The Borrower is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction State of its organization Delaware and is duly qualified or licensed to transact business Florida and in all other places where the failure to be so qualified would have a material adverse effect Material Adverse Effect on it. The Each of Borrower and each other Person which is a party to any Loan Document (other than the LenderBank) has the power to make and perform the Loan Documents executed by it and all such instruments will constitute the legal, valid and binding obligations of such Person, enforceable in accordance with their respective terms, subject only to bankruptcy and similar laws affecting creditors' β rights generally.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.)
Valid Existence and Power. The Borrower is a corporation an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and is duly qualified or licensed to transact business in all places where the failure to be so qualified would have a material adverse effect Material Adverse Effect on it. The Borrower and each other Person which is a party to any Loan Document (other than the LenderBank) has the power to make and perform the Loan Documents executed by it and all such instruments will constitute the legal, valid and binding obligations of such Person, enforceable in accordance with their respective terms, subject only to bankruptcy and similar laws affecting creditors' rights generally.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Digital Lightwave Inc)