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

  • Based solely on the Legal Existence Certificates and as of the date of the Legal Existence Certificates, each Trust is a trust validly existing and authorized to transact business in the Commonwealth of Massachusetts.

  • Based solely upon the Certificate of Legal Existence, HarcoSemco is legally existing as a limited liability company under the laws of the State of Connecticut.

  • Based solely upon the Certificate of Legal Existence, HARCO is legally existing as a limited liability company under the laws of the State of Connecticut.

  • Legal Existence; Compliance with Laws; Etc.................30 Section 8.03.

  • Based solely upon the Certificate of Legal Existence, Harco is legally existing as a corporation under the laws of the State of Connecticut.

  • Legal Existence................................................................

  • Legal Existence.....................................................................

  • Our opinion set forth in paragraph 1 above is rendered in reliance upon the Guarantor’s Legal Existence Certificate.

  • Legal Existence.......................................................................

  • Affirmative Covenants 27 Section 9.1. Compliance with Laws 27 Section 9.2. Insurance 27 Section 9.3. Maintenance of Properties 27 Section 9.4. Payment of Taxes and Claims 27 Section 9.5. Legal Existence, Etc.

Related to Legal Existence

  • 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.

  • 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.

  • 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.

  • Pre-Existing IPR means any Intellectual Property Rights vested in or licensed to the Customer or the Service Provider prior to or independently of the performance by the Customer or the Service Provider of their obligations under this Contract and in respect of the Customer includes, guidance, specifications, instructions, toolkits, plans, data, drawings, databases, patents, patterns, models and designs;

  • 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 -

  • 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.

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

  • 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.