Organization and Qualification; Power and Authority; Compliance With Laws Sample Clauses
This clause establishes that a party to the agreement is properly organized, validly existing, and has the legal authority to enter into and perform its obligations under the contract. It typically requires the party to confirm that it is duly incorporated or formed under the relevant laws, is in good standing, and has obtained all necessary approvals or consents. Additionally, the clause affirms that the party is in compliance with applicable laws and regulations. Its core function is to assure the other party that the entity is legally capable and authorized to participate in the transaction, thereby reducing the risk of unenforceability or legal challenges due to lack of authority or non-compliance.
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default 48 6.1.2 Subsidiaries and Owners; Investment Companies 48 6.1.3 Validity and Binding Effect 49
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default 76 5.2 Borrower; Subsidiaries and Owners; Investment Companies 76 5.3 Validity and Binding Effect 77 5.4 No Conflict; Material Agreements; Consents 77 5.5 Litigation 77 5.6 Financial Statements 77 5.7 Material Adverse Effect 78 5.8 Margin Stock 78 5.9 Full Disclosure 78 5.10 Taxes 79 5.11 Patents, Trademarks, Copyrights, Licenses, Etc 79 5.12 Liens in the Collateral 79 5.13 Insurance 79 5.14 ERISA Compliance 79 5.15 Environmental Matters 80 5.16 Solvency 81 5.17 Sanctions and other Anti-Terrorism Laws 81 5.18 Anti-Corruption Laws 81 5.19 Certificate of Beneficial Ownership 81 5.20 Mines 81 5.21 Reserves 81 5.22 Labor Matters 81 ARTICLE 6 CONDITIONS OF LENDING AND ISSUANCE OF LETTERS OF CREDIT 82
6.1 Initial Loans and Letters of Credit 82 6.2 Each Loan or Letter of Credit 84 ARTICLE 7 AFFIRMATIVE COVENANTS 85 7.1 Preservation of Existence, Etc 85 7.2 Payment of Taxes 85 7.3 Maintenance of Insurance 85 7.4 Maintenance of Properties, Leases and Permits 86 7.5 Inspection Rights 86 7.6 [Reserved.] 86 7.7 Keeping of Records and Books of Account 86 7.8 Compliance with Laws; Use of Proceeds 86
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default 68 6.2. Borrowers; Subsidiaries and Owners; Investment Companies 69 6.3. Validity and Binding Effect 69 6.4. No Conflict; Material Agreements; Consents 69 6.5. Litigation 70 6.6. Financial Statements 70 6.7. Accuracy of Financial Statements 70 6.8. Margin Stock. 70 6.9. Full Disclosure 71 6.10. Taxes 71 6.11. Patents, Trademarks, Copyrights, Licenses, Etc 71 6.12. Liens in the Collateral 71 6.13. Insurance 72 6.14. ERISA Compliance 72 6.15. Environmental Matters 73 6.16. Solvency. 74 6.17. Sanctions, Anti-Corruption and International Trade Laws 74 6.18. Certificate of Beneficial Ownership. 74
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default 80 6.1.2 Subsidiaries; Investment Companies 81 6.1.3 Validity and Binding Effect 81 6.1.4 No Conflict; Material Agreements; Consents 81 6.1.5 Litigation 82 6.1.6 Financial Statements 82
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default 49 6.1.2 Subsidiaries and Owners; Investment Companies 50 6.1.3 Validity and Binding Effect 50 6.1.4 No Conflict; Material Agreements; Consents 50 6.1.5 Litigation 50 6.1.6 Financial Statements 51 6.1.7 Margin Stock 51 6.1.8 Full Disclosure 51 6.1.9 Taxes 52 6.1.10 Patents, Trademarks, Copyrights, Licenses, Etc. 52 6.1.11 Liens in the Collateral 52 6.1.12 Insurance 52 6.1.13 ERISA Compliance 52 6.1.14 Environmental Matters 53 6.1.15 Solvency 53 6.1.16 Coal Act; Black Lung Act 53 6.1.17 Bonding Capacity 54 6.1.18 Permit Blockage 54 6.1.19 ▇▇▇▇▇▇▇▇▇ Land Company and Elk Creek, L.P 54 6.1.20 Vendor Liens. No default exists with respect to any of the Vendor Liens 54 6.2 Updates to Schedules 54
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default ......................................................... 46 5.1.2. Subsidiaries and Owners; Investment Companies ............................................... 47 5.1.3. ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ Effect ................................................................................. 47 5.1.4. No Conflict; Material Agreements; Consents ...................................................... 47 5.1.5. Litigations ............................................................................................................ 48 5.1.6. Financial Statements ............................................................................................ 48 5.1.7. Margin Stock ........................................................................................................ 48 5.1.8. Full Disclosure ..................................................................................................... 49
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default 59 6.1.2 Capitalization and Ownership 59 6.1.3 Subsidiaries 59 6.1.4 Validity and Binding Effect 60 6.1.5 No Conflict; Material Agreements; Consents 60 6.1.6 Litigation 60 6.1.7 Financial Statements 60 6.1.8 Margin Stock 61 6.1.9 Full Disclosure 61 6.1.10 Taxes 61 6.1.11 Patents, Trademarks, Copyrights, Licenses, Etc. 61 6.1.12 Insurance 62
Organization and Qualification; Power and Authority; Compliance With Laws. Title to Properties; Event of Default. 62 6.1.2 Subsidiaries and Owners; Investment Companies. 63 6.1.3 ▇▇▇▇▇▇▇▇ and Binding Effect. 63 6.1.4 No Conflict; Material Agreements; Consents. 63 6.1.5 Litigation. 64 6.1.6 Financial Statements. 64 6.1.7 Margin Stock. 64 6.1.8 Full Disclosure. 65 6.1.9 Taxes. 65 6.1.10 Patents, Trademarks, Copyrights, Licenses, Etc. 65 6.1.11 Liens in the Collateral. 65 6.1.12 Accounts. 65 6.1.13 Inventory. 66 6.1.14 Insurance. 66 6.1.15 ERISA Compliance. 66 6.1.16 Environmental Matters. 67 6.1.17 Solvency. 67 6.1.18 Coal Act; Black Lung Act. 67 6.1.19 Bonding Capacity. 67 6.1.20 Permit Blockage. 67 6.1.21 ▇▇▇▇▇▇▇▇▇ Energy, Inc. 68 6.1.22 Excluded Subsidiaries. 68
Organization and Qualification; Power and Authority; Compliance With Laws. Subsidiaries and Owners of the Borrower; Investment Companies; Regulated Entities