Common use of Entity Status Clause in Contracts

Entity Status. The Authorized Participant hereby represents, covenants and warrants that it has all requisite authority, whether arising under applicable federal or state law, the rules and regulations of any self-regulatory organization to which it is subject, or its certificate of incorporation, formation or limited liability company operating agreement or other organizational document, as the case may be, to enter into the Authorized Participant Agreement and to discharge the duties and obligations apportioned to it in accordance with the terms hereof.