Organized Clause Samples
The "Organized" clause typically defines the requirement for an entity or party to be properly formed and legally recognized under the laws of a specific jurisdiction. In practice, this means that a company or organization must have completed all necessary filings, registrations, and formalities to exist as a legal entity, such as incorporating with the state or country where it operates. This clause ensures that only legitimate, duly established entities can enter into the agreement, thereby reducing the risk of dealing with unregistered or non-existent parties.
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Organized. It is a corporation duly organized, validly existing and is in good standing under the laws of the jurisdiction of its incorporation, is qualified to do business and is in good standing as a foreign corporation in each jurisdiction in which the conduct of its business or the ownership of its properties requires such qualification and failure to have such would prevent it from performing its obligations under this Agreement and has all requisite corporate power and authority to conduct its business as now being conducted, to own, lease and operate its properties and to execute, deliver and perform this Agreement.
Organized. Except as set forth in SECTION 2.4(c) of the CGI Disclosure Schedule, interests in CGI Joint Ventures held by CGI are held directly by CGI, free and clear of any charges, liens, encumbrances, security interest or adverse claims. The term "CGI Joint Venture" means any corporation or other entity (including partnerships, limited liability companies and other business associations) that is not a CGI Subsidiary and in which CGI or one or more CGI Subsidiaries owns an equity interest (other than equity interests held for passive investment purposes which are less than 10% of any class of the outstanding voting securities or other equity of any such entity).
Organized. MIM is a limited liability company duly organized and validly subsisting under the laws of the State of Georgia, and is in good standing with the office of the Secretary of State for the State of Georgia.