Proper Organization Clause Samples
The Proper Organization clause requires that a party to the contract is legally established and authorized to conduct business as specified in the agreement. This typically means the party must be duly incorporated, registered, or otherwise recognized under applicable law, and must have the necessary licenses or approvals to perform its contractual obligations. By including this clause, the contract ensures that all parties are legitimate business entities, reducing the risk of unenforceable agreements or disputes arising from a party's lack of legal standing.
Proper Organization. The Company is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation and is duly qualified as a foreign corporation in all jurisdictions where the failure to be so qualified would have a materially adverse effect on its business, taken as whole.
Proper Organization. The Company and its subsidiaries (“Subsidiaries”) are corporations duly organized, validly existing and in good standing under the laws of their respective jurisdiction of incorporation and are duly qualified as a foreign corporation in all jurisdictions where the failure to be so qualified would have a materially adverse effect on their business, taken as whole;
Proper Organization. The Issuer is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation and is duly qualified as a foreign corporation in all jurisdictions where the failure to be so qualified would have a materially adverse effect on its business, taken as whole.
Proper Organization. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware;