MXL definition
Examples of MXL in a sentence
MXL is a corporation duly organized, validly existing, and in good standing under the laws of the State of Delaware, with all requisite power and authority to own, lease, license, and use its properties and assets and to carry on the business in which it is engaged.
No consent, authorization, approval, order, license, certificate, or permit of or from, or declaration or filing with, any federal, state, local, or other governmental authority or any court or other tribunal is required by MXL for the execution, delivery, or performance by MXL of this Agreement or the Pledge.
If MXL shall sell or otherwise transfer any or all of the Shares, MXL shall pay to the Purchasers or their respective assignees, pro rata in accordance with the amounts of the Notes they are purchasing hereunder, an aggregate amount equal to 50% of the excess, if any, of (i) the proceeds of such sale or other transfer of such Shares over (ii) the aggregate exercise price paid by NPDC for such Shares.
MXL is duly qualified to transact the business in which it is engaged and is or will be in good standing as a foreign corporation in every jurisdiction in which its ownership, leasing, licensing, or use of property or assets or the conduct of its business makes such qualification necessary.
Each of this Agreement and the Pledge constitutes or will constitute the legal, valid, and binding obligation of MXL and is or will be enforceable as to MXL in accordance with its terms, except as limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights, and for general principles of equity that restrict the availability of equitable remedies.
MXL has all requisite power and authority to execute, deliver, and perform this Agreement and the Pledge.
For the duration of the Holding Period and for two (2) years thereafter, neither Partner A nor any of the Other Partners will engage, directly or indirectly, in the manufacture, sale or distribution of optical plastics molding or precision coating products which are competitive with the products of MXL Operations in any geographic area in which MXL Operations conducts its business.
Immediately upon exercise of such option, NPDC shall contribute the Shares to MXL.
Each of this Agreement and the Pledge has been duly authorized by MXL and this Agreement has been, and at the Closing the Pledge will be, duly executed and delivered by MXL.
The Closing may occur at such different place, different time, or different date as NPDC, MXL, and the Purchasers agree in writing.