Operative Instruments definition
Examples of Operative Instruments in a sentence
In the event that the Company shall request that the Investor consent to any action by the Company that is otherwise prohibited by, or amend any of, the Operative Instruments, the Company shall pay all reasonable legal fees and expenses reasonably incurred by the Investor in connection with the Investor's review of such request.
Each of the Operative Instruments to which the Investor is a party has been duly authorized, executed and delivered by the Investor, and constitutes a legal, valid and binding obligation of the Investor, enforceable against the Investor in accordance with its terms.
The execution and delivery of the Operative Instruments by the Company and the performance by the Company of its obligations thereunder do not legally or contractually require any filing or registration with, or the receipt of any consent by, any governmental or regulatory authority by the Company or its Subsidiaries other than any which have already been obtained or waived.
The Company has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement and to enter into and perform its obligations under the Operative Instruments, and to purchase, own and hold the Common Securities issued by the Trust.
The Company shall have received the opinion of Orloff, Lowenbach, Stifelman & Siegel, P.A., lega▇ ▇▇▇▇▇▇▇ to ▇▇▇ ▇nvestor, dated as of the Initial Closing, opining (1) as to the organization and good standing of the Investor; and (2) that the Operative Instruments were duly authorized, executed, and delivered by the Investor.
The execution, delivery and performance of the Operative Instruments and the consummation of the transactions contemplated therein and the execution, filing, and performance of the Articles Supplementary have been duly and validly authorized by all necessary corporate action in respect thereof on the part of the Company.
The execution, delivery and performance of the Operative Instruments and the consummation of the transactions contemplated therein have been duly and validly authorized by all necessary corporate action in respect thereof on the part of the Investor.
The Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with the terms of the Operative Instruments, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of any Holder of Debt with respect thereto.
The following provision is added as Section 7.1.E.: For purposes of the September 2003 Closing, the Investor shall have received the opinion of ▇▇▇▇▇▇ & Bird LLP, legal counsel to the Company, dated as of the September 2003 Closing, opining as to (1) the organization and good standing fo the Company; (2) the due authorization and validity of the issuance of the Preferred Stock constituting the Additional Investment; and (3) the enforceability of the Operative Instruments.
The Company has the corporate power and authority necessary to execute, deliver, and perform its obligations under the Operative Instruments and to consummate the transactions contemplated thereby and to execute, file, and perform its obligations under the Articles Supplementary.