Common use of Trust Representations Clause in Contracts

Trust Representations. (1) The Trust warrants that it is a duly organized Mississippi workers' compensation self insurance trust, validly existing and in good standing under the laws of the State of Mississippi with the power and authority to conduct the business in which it is engaged, and has complete and unrestricted power to enter into and consummate this Agreement. The Trust has full power and authority to enter into this Agreement and carry out the transactions contemplated hereby and all necessary trust action has been taken by the Trust to authorize the execution and delivery of this Agreement and the performance of the transactions contemplated hereby. (2) The Trust has all licenses, permits and registrations necessary under the laws of State of Mississippi to perform the transactions contemplated herein and there are no outstanding, pending or threatened orders, writs, injunctions, or decrees of any court, governmental agency, or other tribunal affecting the ability of the Trust to enter into this Agreement or provide the services described herein or relating to the solvency of the Trust. The fair market value of the Trust's assets exceeds the Trust's liabilities, and the Trust is currently paying its debts when due. The Trust is not a party to any insolvency or bankruptcy proceeding, nor is currently making an arrangement for the benefit of creditors.