Constituent Documents in Effect Sample Clauses
The "Constituent Documents in Effect" clause establishes that all foundational documents governing an entity—such as articles of incorporation, bylaws, or partnership agreements—must be valid, current, and enforceable at the time of the agreement. In practice, this means the entity is required to maintain its organizational documents in good standing and ensure that no amendments or revocations have occurred that would affect their validity. This clause serves to assure the other parties that the entity is properly constituted and authorized to enter into the agreement, thereby reducing the risk of disputes over authority or legal standing.
Constituent Documents in Effect. The Borrower LLC Agreement and the Constituent Documents of each Loan Party remain in full force and effect and there exists no breach of, default under, or threatened breach of, the Borrower LLC Agreement or any Constituent Document of such Loan Party by the Borrower, such Loan Party or the Originator that could reasonably be expected to cause a Material Adverse Effect.