Legal Existence definition

Legal Existence. Franchises: Compliance with Laws . . . . . . . . . . . . . . . . . . . . 50 5.4 Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 5.5 Restoration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 5.6
Legal Existence. Franchises: Compliance with Laws. (a) The Borrower shall, and shall cause each of the other Companies to: maintain its existence and business (except as otherwise contemplated by the Restructuring Plan); maintain its licensing, qualification or other authorization to do business as a foreign partnership, foreign real estate investment trust, foreign corporation or other foreign business entity in all states where necessary for the conduct of such Company's business as from time to time conducted; maintain all Assets which are necessary for the conduct of such business now or hereafter owned, in good repair, working order and condition, ordinary wear and tear excepted; take all actions to maintain and keep in full force and effect all such Material Agreements and Material Licenses as are necessary for the conduct of such business; and, except as otherwise provided herein, comply in all material respects with all applicable statutes, rules, regulations and orders of, and all applicable restrictions imposed by, all Governmental Authorities in respect of the conduct of such business and the ownership of such Company's Assets. However, neither the Borrower nor any of the other Companies shall be required by reason of this Section to comply with any such statute, rule, regulation, order or restriction at any time while the Borrower or such other Company shall be contesting its obligation to do so in good faith by appropriate proceedings promptly initiated and diligently conducted, and if the Borrower or such other Company shall have set aside on its books such reserves, if any, with respect to that matter as are required by GAAP and deemed adequate by such Company and its independent public accountants.

Examples of Legal Existence in a sentence

  • RULE 2.112 PLEADING SPECIAL MATTERS‌ (A) Capacity; Legal Existence.

  • If your Company does not have a Certificate of Legal Existence or Authorization, you may include a copy of the Application submitted to the State of Connecticut.

  • Near to room temperature, the observable response takes place in the 0.1-2 ns time range.

  • Effective March 1, 2001, this calling option will not be available to new subscribers.] Optional Features: Recurring Optional Feature charges are assessed once per customer location regardless of the number of arrangements or Service Configurations installed.

  • CT Certificate of Authorization: Provide your Company’s current Certificate of Legal Existence or Authorization from the CT Secretary of State.

  • If applicable, a copy of the Applicant’s Articles of Organization, a current Certificate of Legal Existence from the Commonwealth, and the most recent annual report.

  • Original Certificate of Legal Existence issued by the Connecticut Secretary of the State.

  • DRT then issues a Certificate of Incorporation.Advantages: Separate Legal Existence: The Corporation is distinct from the individuals who own it.

  • Any corporation shall provide a Certificate of Good Standing from the Connecticut Secretary of the State; any limited partnership shall provide a Certificate of Legal Existence from the Connecticut Secretary of the State; out-of-state applicants shall present evidence from the Secretary of the State that they are authorized to do business in Connecticut.

  • Legal Existence: The applicant must provide acceptable evidence of legal existence.

Related to Legal Existence

  • Pre-existing Disease means any condition, ailment or injury or related condition(s) for which you had signs or symptoms, and / or were diagnosed, and / or received medical advice / treatment within 48 months to prior to the first policy issued by the insurer.

  • Good Standing means only that as of the date of this opinion the Company is up-to-date with the filing of its annual returns and payment of annual fees with the Registrar of Companies. We have made no enquiries into the Company’s good standing with respect to any filings or payment of fees, or both, that it may be required to make under the laws of the Cayman Islands other than the Companies Act.

  • Procurement organization means an eye bank, organ procurement organization, or tissue bank.

  • Lead organization means a trade organization, labor organization or other incorporated entity representing a group of businesses that is the applicant for a business network project.

  • Health maintenance organization means that term as defined in section 3501 of the insurance code of 1956, 1956 PA 218, MCL 500.3501.

  • In good standing means a person who has not resigned or been suspended from membership or registration or had membership or registration revoked;

  • Formation means an assemblage of earth materials grouped together into a unit that is convenient for description or mapping.

  • Pre-Existing Intellectual Property means intellectual property developed prior to or outside the scope of this Contract, and any derivatives of that intellectual property.

  • Nonprofit organization means a university or other institution of higher education or an organization of the type described in section 501(c)(3) of the Internal Revenue Code of 1954 (26 U.S.C. 501(c) and exempt from taxation under section 501(a) of the Internal Revenue Code (25 U.S.C. 501(a)) or any nonprofit scientific or educational organization qualified under a state nonprofit organization statute.

  • Qualified nonprofit organization means, with respect to a Project, an organization exempt from federal income tax under Section 501(c) (3) or (4) of the Internal Revenue Code, which is not and during the Compliance Period will not be affiliated with or controlled by a for-profit organization, whose exempt purposes include the fostering of low income housing, which owns an interest in the Project, which will materially participate in the development and operation of the Project throughout the Compliance Period, and which is not affiliated with or controlled by a for-profit organization.

  • Legal Entity means the union of the acting entity and all other entities that control, are controlled by, or are under common control with that entity. For the purposes of this definition, "control" means (i) the power, direct or indirect, to cause the direction or management of such entity, whether by contract or otherwise, or (ii) ownership of fifty percent (50%) or more of the outstanding shares, or (iii) beneficial ownership of such entity.

  • Organization means a person other than an individual.

  • Business organization means an individual, partnership, association, joint stock company, trust, corporation or other legal business entity or successor thereof.

  • Pre-Existing Conditions means, in respect of the Insured Person, any Sickness, Disease, Injury, physical, mental or medical condition or physiological degradation, including Congenital Condition, that has existed prior to the Policy Issuance Date or the Policy Effective Date, whichever is the earlier. An ordinary prudent person shall be reasonably aware of a Pre- existing Condition, where -

  • Constituent organization means an organization that is party to a merger.

  • Pre-existing Medical Condition means any condition which:

  • Organ procurement organization means a person designated by the Secretary of the United States Department of Health and Human Services as an organ procurement organization.

  • Converted organization means the organization into which a

  • Pre-Existing Condition means an illness, disease, or other condition during the 180 day period immediately prior to the Effective Date of Your coverage for which You or Your Traveling Companion, Business Partner or Family Member: 1) received or received a recommendation for a test, examination, or medical treatment; or 2) took or received a prescription for drugs or medicine. Item (2) of this definition does not apply to a condition which is treated or controlled solely through the taking of prescription drugs or medicine and remains treated or controlled without any adjustment or change in the required prescription throughout the 180 day period before Your coverage is effective under this policy.

  • Religious organization means a church, ecclesiastical corporation, or group, not organized for pecuniary profit, that gathers for mutual support and edification in piety or worship of a supreme deity.

  • Related organization means an organization that controls, is controlled by, or is under common control with another organization with control existing if an organization:

  • Student organization means a group, club or organization having students as its primary members or participants. It includes grade levels, classes, teams, activities or particular school events. A student organization does not have to be an official school organization to come within the terms of this definition.

  • Distinguishable from background means that the detectable concentration of a radionuclide is statistically different from the background concentration of that radionuclide in the vicinity of the site or, in the case of structures, in similar materials using adequate measurement technology, survey, and statistical techniques.

  • Qualified organization means any organization to which a valid permit has been issued by the

  • Preferred Provider Organization or "PPO" means an entity through which a group of health care providers, such as doctors, hospitals and others, agree to provide specific medical and hospital care and some related services at a negotiated price.

  • Parent organization means the entity named in Item I. of the Policy Declarations.