Common use of Formation and Qualification Clause in Contracts

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 15 contracts

Samples: Security Agreement (Valuevision Media Inc), Revolving Credit (Allied Motion Technologies Inc), Security Agreement (Kitty Hawk Inc)

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Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 7 contracts

Samples: Security Agreement (Research Pharmaceutical Services, Inc.), Security Agreement (Research Pharmaceutical Services, Inc.), Security Agreement (Research Pharmaceutical Services, Inc.)

Formation and Qualification. (a) Each Borrower is duly incorporated formed and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation formation and by-laws operating agreement and will promptly notify Agent of any amendment or changes thereto.

Appears in 5 contracts

Samples: Security Agreement (Green Plains Renewable Energy, Inc.), Credit and Security Agreement (Green Plains Inc.), Credit and Security Agreement (Green Plains Inc.)

Formation and Qualification. (a) Each Borrower is duly incorporated or formed, as applicable, and in good standing under the laws of the state or province listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states or provinces listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws Organizational Documents and will promptly notify Agent of any material amendment or changes thereto.

Appears in 4 contracts

Samples: Security Agreement (Innovex Downhole Solutions, Inc.), Guaranty and Security Agreement (Innovex Downhole Solutions, Inc.), Guaranty and Security Agreement (Innovex Downhole Solutions, Inc.)

Formation and Qualification. (a) Each Borrower is duly incorporated or formed, as applicable, and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws Organizational Documents and will promptly notify Agent of any amendment or changes thereto.

Appears in 2 contracts

Samples: Security Agreement (Gaiam, Inc), Loan and Security Agreement (Boomerang Systems, Inc.)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(aSCHEDULE 5.2(A) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(aSCHEDULE 5.2(A) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (E Com Ventures Inc), Revolving Credit and Security Agreement (E Com Ventures Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated or formed, as applicable, and in good standing under the laws of the state listed on Schedule 5.2(a) ), and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws Organizational Documents and will promptly notify Agent of any amendment or changes thereto.

Appears in 2 contracts

Samples: Security Agreement (Englobal Corp), Security Agreement (Flotek Industries Inc/Cn/)

Formation and Qualification. (a) Each Such Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 2 contracts

Samples: Security Agreement (Batteries Batteries Inc), Health Chem Corp

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) SCHEDULE 5.2 and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) SCHEDULE 5.2 which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (PDS Financial Corp)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Revolving Credit (Graham Field Health Products Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated formed and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation formation and by-laws operating agreement and will agrees to promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (NYTEX Energy Holdings, Inc.)

Formation and Qualification. (a) Each Borrower is duly incorporated organized and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation organizational and by-laws governance documents and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Zanett Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated organized and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and --------------- is in good standing in the states listed on Schedule 5.2(a) which constitute all --------------- states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws Organization Documents and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Eltrax Systems Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated organized and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws Organizational Documents and will promptly notify Agent of any material amendment or changes thereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Swenson Granite Co LLC)

Formation and Qualification. (a) Each Such Borrower is duly incorporated formed and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) ), which states constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Such Borrower has delivered to Agent true and complete copies of its certificate Certificate of incorporation Incorporation and by-laws Bylaws and will promptly notify Agent of any amendment or changes change thereto.

Appears in 1 contract

Samples: Security Agreement (HMG Worldwide Corp)

Formation and Qualification. (a) Each Borrower has been duly organized and is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower Borrowers to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws Organization Documents and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Pietrafesa Corp)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state applicable jurisdiction listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states applicable jurisdictions listed on Schedule 5.2(a) which constitute all states jurisdictions in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation incorporation, constating documents and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Credit and Security Agreement (Vista Information Solutions Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws laws, or other organizational documents, and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (Union Drilling Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) 5.2 and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) 5.2 which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could would reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (Eos International Inc)

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Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent Lender true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent Lender of any amendment or changes thereto.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Allied Motion Technologies Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (Small World Kids Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes theretolaws.

Appears in 1 contract

Samples: Security Agreement (Osteotech Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated formed and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states states/provinces listed on Schedule 5.2(a) which constitute all states states/provinces in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation formation and by-laws operating agreement and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (FCStone Group, Inc.)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) 5.2 and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) 5.2 which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (Signal Apparel Company Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate articles of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Credit and Security Agreement (Badger Paper Mills Inc)

Formation and Qualification. (a) a. Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Credit and Security Agreement (Compudyne Corp)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) where each was incorporated and is qualified to do business and is in good standing in the states listed on Schedule SCHEDULE 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Credit and Security Agreement (Frontstep Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a4.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a4.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will shall promptly notify Agent of any amendment or material changes thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Crystal River Capital, Inc.)

Formation and Qualification. (a) Each 5.2.1 Borrower is duly incorporated and in good standing under the laws of the state listed on the Disclosure Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on the Disclosure Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such BorrowerEffect. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Subordination Agreement (Obsidian Enterprises Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated incorporated] and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (Intelligroup Inc)

Formation and Qualification. (a) Each Borrower is duly incorporated organized and in good standing under the laws of the state or province listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property Amended & Restated Credit Agreement and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws or analogous documents and will promptly notify Agent of any amendment or changes thereto.

Appears in 1 contract

Samples: Security Agreement (Geokinetics Inc)

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