Good standing clause: Copy, customize, and use instantly
Introduction
A good standing clause ensures that a party to the contract is in compliance with all relevant laws, regulations, and financial obligations at the time the agreement is executed and throughout its duration. This clause is typically included to ensure that both parties are legally and financially sound to meet their contractual obligations, preventing any breaches or disputes due to financial instability or non-compliance.
Below are templates for good standing clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Financial good standing clause
This clause ensures that a party remains in good financial standing.
The [Party Name] represents and warrants that, as of the date of this Agreement and for the duration of the term, it is in good financial standing, with no outstanding debts or liabilities that would materially affect its ability to perform its obligations under this Agreement. The [Party Name] agrees to maintain such good financial standing throughout the term of this Agreement.
Legal good standing clause
This clause ensures that a party remains in good legal standing.
The [Party Name] represents and warrants that it is duly organized, validly existing, and in good standing under the laws of [jurisdiction], and has the necessary legal authority to enter into and perform this Agreement. The [Party Name] agrees to remain in good legal standing and comply with all applicable laws and regulations throughout the term of this Agreement.
Tax good standing clause
This clause ensures that a party complies with tax obligations.
The [Party Name] represents and warrants that it has filed all necessary tax returns and paid all applicable taxes in full as required by law. The [Party Name] further agrees to maintain its good standing with respect to all tax filings and payments during the term of this Agreement and promptly resolve any issues related to tax liabilities.
Compliance with laws clause
This clause ensures compliance with laws for good standing.
The [Party Name] represents and warrants that it is, and will remain during the term of this Agreement, in compliance with all applicable laws, regulations, and legal obligations in relation to its business operations. The [Party Name] agrees to promptly address any legal issues that may impact its good standing.
Corporate good standing clause
This clause ensures corporate compliance for good standing.
The [Party Name] represents and warrants that it is in good standing as a corporation or other legal entity under the laws of the jurisdiction in which it is organized. The [Party Name] will maintain its corporate good standing and comply with all corporate formalities required by law throughout the term of this Agreement.
Licensing good standing clause
This clause ensures that a party maintains necessary licenses.
The [Party Name] represents and warrants that it holds all necessary licenses, permits, and authorizations required by applicable laws to operate its business and fulfill its obligations under this Agreement. The [Party Name] agrees to maintain these licenses and ensure they remain in good standing during the term of this Agreement.
Good standing in business relationships clause
This clause ensures that a party is in good standing with its business partners.
The [Party Name] represents and warrants that it is in good standing with all of its business partners, suppliers, and other third parties with whom it conducts business. The [Party Name] further warrants that no disputes, claims, or judgments exist that could adversely affect its ability to perform its obligations under this Agreement.
Bankruptcy good standing clause
This clause ensures a party is not in bankruptcy proceedings.
The [Party Name] represents and warrants that it is not currently under any bankruptcy proceedings, nor has it filed for bankruptcy in the past [insert number] years. The [Party Name] agrees to notify the other party immediately if any bankruptcy, insolvency, or similar proceedings are initiated during the term of this Agreement.
Insurance good standing clause
This clause ensures the party has the required insurance coverage.
The [Party Name] represents and warrants that it maintains, and will continue to maintain during the term of this Agreement, all necessary insurance coverage required by law and the terms of this Agreement, including but not limited to general liability and worker’s compensation insurance. The [Party Name] agrees to provide proof of such insurance upon request.
Governmental good standing clause
This clause ensures the party is in good standing with governmental authorities.
The [Party Name] represents and warrants that it is in good standing with all relevant governmental authorities, including regulatory bodies and licensing agencies, and has not been subject to any sanctions, fines, or penalties. The [Party Name] agrees to remain in compliance with all applicable governmental requirements throughout the term of this Agreement.
Professional good standing clause
This clause ensures the party maintains its professional credentials.
The [Party Name] represents and warrants that it is in good standing with all relevant professional bodies, organizations, or associations in its industry, and holds any required certifications or credentials to perform its obligations under this Agreement. The [Party Name] agrees to maintain these credentials in good standing during the term of this Agreement.
Operational good standing clause
This clause ensures operational compliance and good standing.
The [Party Name] represents and warrants that it operates its business in good standing, including maintaining sufficient operational infrastructure, staffing, and resources to fulfill its obligations under this Agreement. The [Party Name] agrees to promptly resolve any operational issues that may affect its ability to meet the terms of this Agreement.
Debt good standing clause
This clause ensures the party is not in significant debt.
The [Party Name] represents and warrants that it has no outstanding debts or financial obligations that could materially affect its ability to perform under this Agreement. The [Party Name] agrees to inform the other party if any debts or financial obligations arise during the term of this Agreement that could impact its good standing.
Environmental good standing clause
This clause ensures environmental compliance for good standing.
The [Party Name] represents and warrants that it is in compliance with all applicable environmental laws and regulations and is not the subject of any pending environmental claims, fines, or penalties. The [Party Name] agrees to maintain its good environmental standing throughout the term of this Agreement.
Default good standing clause
This clause ensures that the party is not in default.
The [Party Name] represents and warrants that it is not in default under any other contract or agreement that would impair its ability to perform under this Agreement. The [Party Name] agrees to promptly inform the other party if it becomes aware of any defaults or breaches that could affect its good standing.
Franchise good standing clause
This clause ensures a franchisee maintains good standing.
The [Party Name] represents and warrants that, if applicable, it is in good standing as a franchisee under the terms of its franchise agreement and is fully authorized to operate its franchise. The [Party Name] agrees to remain in compliance with all franchise-related obligations during the term of this Agreement.
Financial health good standing clause
This clause ensures the financial health of a party.
The [Party Name] represents and warrants that it is in good financial health, with a positive cash flow and no significant outstanding debts or liabilities. The [Party Name] agrees to provide the other party with financial statements upon request to demonstrate continued financial stability.
Membership good standing clause
This clause ensures the party maintains good standing with its membership organizations.
The [Party Name] represents and warrants that it is in good standing with all relevant membership organizations, trade groups, and associations to which it belongs. The [Party Name] agrees to maintain these memberships and comply with their respective codes of conduct during the term of this Agreement.
Good standing clause for compliance with contractual obligations
This clause ensures compliance with existing contractual obligations.
The [Party Name] represents and warrants that it is in good standing with respect to all other contractual obligations and has no outstanding defaults or breaches of contract that would impact its ability to perform its duties under this Agreement. The [Party Name] agrees to inform the other party of any such issues promptly.
Good standing clause for non-dissolution
This clause ensures the party is not subject to dissolution.
The [Party Name] represents and warrants that it is not the subject of any action, filing, or legal proceeding that could lead to its dissolution, liquidation, or cessation of operations. The [Party Name] agrees to notify the other party immediately if any such proceedings are initiated.
Good standing clause for maintaining necessary permits
This clause ensures that the party holds all necessary permits.
The [Party Name] represents and warrants that it possesses all necessary permits, licenses, and authorizations required to operate its business and fulfill its obligations under this Agreement. The [Party Name] agrees to maintain such permits in good standing for the duration of this Agreement.
Good standing clause for the party’s organizational health
This clause ensures that the party remains in good organizational health.
The [Party Name] represents and warrants that it is in good standing with respect to its organizational status, including the absence of any legal proceedings that would impair its ability to conduct business or perform its obligations under this Agreement.
Good standing clause for maintaining operational capacity
This clause ensures the party has the capacity to fulfill its obligations.
The [Party Name] represents and warrants that it has the necessary operational capacity, resources, and personnel to fulfill its obligations under this Agreement. The [Party Name] agrees to maintain these resources in good standing for the term of this Agreement.
Good standing clause for absence of adverse financial events
This clause ensures the party has not encountered significant financial issues.
The [Party Name] represents and warrants that it has not experienced any adverse financial events, such as bankruptcy, insolvency, or significant debt accumulation, that would materially impact its ability to fulfill its obligations under this Agreement.
Good standing clause for compliance with labor laws
This clause ensures the party is in compliance with labor laws.
The [Party Name] represents and warrants that it is in good standing with respect to labor laws, including employee rights, wages, benefits, and safety regulations, and that no violations of labor laws exist that would impair its ability to perform under this Agreement.
Good standing clause for non-violation of applicable regulations
This clause ensures compliance with applicable regulations.
The [Party Name] represents and warrants that it is in compliance with all applicable local, state, and federal regulations, including environmental, safety, and industry-specific laws. The [Party Name] agrees to notify the other party immediately if any regulatory violations arise that could affect the performance of this Agreement.
Good standing clause for the party’s operational licenses
This clause ensures the party holds necessary operational licenses.
The [Party Name] represents and warrants that it holds all necessary operational licenses, permits, and regulatory approvals to perform its obligations under this Agreement and will maintain these licenses in good standing throughout the term of the Agreement.
Good standing clause for financial solvency
This clause ensures the party’s financial solvency.
The [Party Name] represents and warrants that it is financially solvent, with sufficient resources to meet its obligations under this Agreement. The [Party Name] agrees to provide proof of financial solvency if requested by the other party.
Good standing clause for no unreported liabilities
This clause ensures there are no undisclosed liabilities.
The [Party Name] represents and warrants that it has no undisclosed liabilities or obligations that would adversely affect its ability to perform under this Agreement. The [Party Name] agrees to disclose any such liabilities promptly if they arise.
Good standing clause for operational continuity
This clause ensures the party can maintain operations.
The [Party Name] represents and warrants that it has the operational continuity and infrastructure required to perform its obligations under this Agreement. This includes sufficient personnel, technology, and systems to meet the requirements of this Agreement.
Good standing clause for no involvement in legal disputes
This clause ensures the party is not involved in legal disputes.
The [Party Name] represents and warrants that it is not currently involved in any legal disputes, claims, or litigation that could interfere with its ability to fulfill its obligations under this Agreement. The [Party Name] agrees to inform the other party if any legal proceedings are initiated.
Good standing clause for absence of tax issues
This clause ensures the party has no unresolved tax issues.
The [Party Name] represents and warrants that it is in good standing with tax authorities and has no unresolved tax issues that would impair its ability to perform its obligations under this Agreement. The [Party Name] agrees to promptly resolve any tax issues that may arise during the term of this Agreement.
Good standing clause for compliance with insurance requirements
This clause ensures compliance with insurance requirements.
The [Party Name] represents and warrants that it maintains sufficient insurance coverage as required by this Agreement and applicable laws. The [Party Name] agrees to provide proof of insurance upon request and to maintain coverage in good standing throughout the term of this Agreement.
Good standing clause for absence of business suspensions
This clause ensures the party is not subject to business suspension.
The [Party Name] represents and warrants that it is not subject to any suspensions or restrictions on its ability to conduct business, including those imposed by regulatory bodies or authorities. The [Party Name] agrees to notify the other party immediately if any such suspension occurs.
Good standing clause for no insolvency proceedings
This clause ensures the party is not undergoing insolvency proceedings.
The [Party Name] represents and warrants that it is not currently undergoing any insolvency, bankruptcy, or similar proceedings. The [Party Name] agrees to inform the other party immediately if such proceedings are initiated during the term of this Agreement.
Good standing clause for compliance with contract performance history
This clause ensures the party’s history of compliance with contracts.
The [Party Name] represents and warrants that it has a history of performing its contractual obligations in good standing and that there are no unresolved disputes or breaches of contract that would prevent it from performing under this Agreement.
Good standing clause for financial reports availability
This clause ensures the availability of financial reports.
The [Party Name] represents and warrants that it will provide the other party with access to its most recent financial reports, including audited financial statements, to demonstrate its financial standing and ability to fulfill its obligations under this Agreement.
Good standing clause for availability of regulatory compliance documents
This clause ensures access to compliance documents.
The [Party Name] represents and warrants that it will provide the other party with access to documents verifying its compliance with applicable regulations and standards upon request, ensuring that it remains in good standing throughout the term of this Agreement.
Good standing clause for maintaining business registration
This clause ensures the party’s business registration is current.
The [Party Name] represents and warrants that it is duly registered and in good standing with all relevant authorities in the jurisdiction in which it conducts business. The [Party Name] agrees to maintain such registration and good standing throughout the term of this Agreement.
Good standing clause for compliance with financial reporting
This clause requires compliance with financial reporting standards.
The [Party Name] represents and warrants that it has complied with all applicable financial reporting requirements and standards. The [Party Name] agrees to provide updated financial statements upon request to confirm its continued good standing in meeting these requirements.
Good standing clause for no criminal activity
This clause ensures no criminal activity.
The [Party Name] represents and warrants that it has not been involved in any criminal activity or legal violations that would affect its ability to perform its obligations under this Agreement. The [Party Name] agrees to inform the other party immediately if such issues arise during the term of this Agreement.
Good standing clause for adequate liquidity
This clause ensures the party has adequate liquidity.
The [Party Name] represents and warrants that it maintains adequate liquidity to meet its financial obligations under this Agreement. The [Party Name] agrees to provide evidence of liquidity upon request to ensure its continued ability to perform under this Agreement.
Good standing clause for no material adverse events
This clause ensures the absence of material adverse events.
The [Party Name] represents and warrants that there have been no material adverse events that could significantly impact its financial position, operations, or ability to perform its obligations under this Agreement. The [Party Name] agrees to notify the other party if any such events arise.
Good standing clause for proper business operations
This clause ensures the party operates its business properly.
The [Party Name] represents and warrants that its business operations are in good standing, and it is conducting its operations in compliance with all applicable laws, regulations, and industry standards. The [Party Name] agrees to maintain proper business operations throughout the term of this Agreement.
Good standing clause for no unresolved disputes
This clause ensures there are no unresolved disputes.
The [Party Name] represents and warrants that it is not involved in any unresolved disputes or litigation that would affect its ability to meet its obligations under this Agreement. The [Party Name] agrees to inform the other party immediately if such disputes arise during the term of this Agreement.
Good standing clause for compliance with antitrust laws
This clause ensures compliance with antitrust laws.
The [Party Name] represents and warrants that it complies with all applicable antitrust and competition laws. The [Party Name] agrees to refrain from any conduct that could be considered anti-competitive or that could result in violations of antitrust laws during the term of this Agreement.
Good standing clause for maintaining proper tax filings
This clause ensures proper tax filings.
The [Party Name] represents and warrants that it has filed all required tax returns and paid all applicable taxes as required by law. The [Party Name] agrees to remain in good standing with respect to all tax obligations throughout the term of this Agreement.
Good standing clause for no violations of intellectual property rights
This clause ensures no violations of intellectual property rights.
The [Party Name] represents and warrants that it is not infringing on any intellectual property rights and that its activities do not violate any third-party intellectual property rights. The [Party Name] agrees to indemnify the other party against any claims arising from such violations.
Good standing clause for no breach of fiduciary duties
This clause ensures no breach of fiduciary duties.
The [Party Name] represents and warrants that it is not in breach of any fiduciary duties owed to its shareholders, partners, or stakeholders. The [Party Name] agrees to comply with its fiduciary obligations throughout the term of this Agreement.
Good standing clause for compliance with health and safety regulations
This clause ensures compliance with health and safety regulations.
The [Party Name] represents and warrants that it complies with all applicable health and safety regulations. The [Party Name] agrees to maintain such compliance throughout the term of this Agreement and promptly address any health or safety concerns.
Good standing clause for no unresolved financial penalties
This clause ensures there are no unresolved financial penalties.
The [Party Name] represents and warrants that it has no unresolved financial penalties or fines that could materially affect its ability to fulfill its obligations under this Agreement. The [Party Name] agrees to address any penalties promptly if they arise during the term of this Agreement.
Good standing clause for compliance with export control laws
This clause ensures compliance with export control laws.
The [Party Name] represents and warrants that it complies with all applicable export control laws, including those governing the export of technology, goods, and services. The [Party Name] agrees to ensure that its activities are in full compliance with these laws throughout the term of this Agreement.
Good standing clause for no suspension of licenses or permits
This clause ensures no suspension of licenses or permits.
The [Party Name] represents and warrants that it has not had any licenses or permits suspended or revoked by any regulatory authority. The [Party Name] agrees to notify the other party if any licenses or permits are suspended or revoked during the term of this Agreement.
Good standing clause for compliance with data privacy laws
This clause ensures compliance with data privacy laws.
The [Party Name] represents and warrants that it complies with all applicable data privacy and protection laws, including but not limited to GDPR, CCPA, and any relevant regulations. The [Party Name] agrees to maintain compliance throughout the term of this Agreement.
Good standing clause for no unresolved environmental violations
This clause ensures no unresolved environmental violations.
The [Party Name] represents and warrants that it is not subject to any unresolved environmental violations, penalties, or fines. The [Party Name] agrees to comply with all relevant environmental regulations and resolve any environmental issues that may arise during the term of this Agreement.
Good standing clause for proper corporate governance
This clause ensures the party has proper corporate governance.
The [Party Name] represents and warrants that it operates in compliance with appropriate corporate governance standards and practices. The [Party Name] agrees to maintain such standards throughout the term of this Agreement and to resolve any governance-related issues promptly.
Good standing clause for financial reporting accuracy
This clause ensures the accuracy of financial reports.
The [Party Name] represents and warrants that all financial reports provided to the other party are accurate and reflect the true financial position of the organization. The [Party Name] agrees to provide updated financial reports upon request throughout the term of this Agreement.
Good standing clause for compliance with contractual obligations
This clause ensures compliance with contractual obligations.
The [Party Name] represents and warrants that it is in good standing with respect to all prior contractual obligations and has not defaulted on any contractual terms. The [Party Name] agrees to fulfill all obligations under this Agreement without delay or issue.
Good standing clause for no history of legal sanctions
This clause ensures the party has no history of legal sanctions.
The [Party Name] represents and warrants that it has not been subject to any legal sanctions, penalties, or other regulatory actions that would impair its ability to perform its obligations under this Agreement. The [Party Name] agrees to notify the other party if any such sanctions are imposed during the term of this Agreement.
Good standing clause for the party’s current solvency
This clause ensures the party's current solvency.
The [Party Name] represents and warrants that it is solvent and financially stable at the time of entering into this Agreement. The [Party Name] agrees to maintain this solvency throughout the term of this Agreement and notify the other party if its financial status changes.
Good standing clause for no outstanding litigation
This clause ensures the party is not involved in litigation.
The [Party Name] represents and warrants that it is not involved in any outstanding litigation or legal proceedings that could materially affect its ability to perform its obligations under this Agreement. The [Party Name] agrees to promptly inform the other party if any litigation arises during the term of this Agreement.
Good standing clause for compliance with licensing requirements
This clause ensures the party is compliant with licensing requirements.
The [Party Name] represents and warrants that it holds all necessary licenses, permits, and certifications required to operate its business and fulfill its obligations under this Agreement. The [Party Name] agrees to maintain these licenses in good standing throughout the term of this Agreement.
Good standing clause for no adverse credit history
This clause ensures no adverse credit history.
The [Party Name] represents and warrants that it has no history of adverse credit events, including defaults, bankruptcies, or other financial failures, that could impact its ability to meet its obligations under this Agreement.
Good standing clause for compliance with local laws
This clause ensures compliance with local laws.
The [Party Name] represents and warrants that it is in full compliance with all local, state, and federal laws, rules, and regulations governing its operations. The [Party Name] agrees to continue such compliance during the term of this Agreement and to inform the other party immediately if any compliance issues arise.
Good standing clause for financial solvency and liquidity
This clause ensures the party is financially solvent and liquid.
The [Party Name] represents and warrants that it is financially solvent and possesses sufficient liquidity to meet its financial obligations under this Agreement. The [Party Name] agrees to provide financial statements upon request to demonstrate its ongoing financial stability.
Good standing clause for no violations of trade regulations
This clause ensures compliance with trade regulations.
The [Party Name] represents and warrants that it is not in violation of any applicable trade regulations, including export controls, anti-dumping laws, and tariffs. The [Party Name] agrees to comply with all trade-related laws and regulations during the term of this Agreement.
Good standing clause for the absence of business interruptions
This clause ensures no business interruptions.
The [Party Name] represents and warrants that there are no events or conditions that are likely to cause a material disruption to its business operations or ability to perform under this Agreement. The [Party Name] agrees to notify the other party immediately if any such events occur during the term of this Agreement.
Good standing clause for no conflict of interest
This clause ensures there is no conflict of interest.
The [Party Name] represents and warrants that no conflict of interest exists that could interfere with its ability to perform its obligations under this Agreement. The [Party Name] agrees to disclose any potential conflicts of interest promptly if they arise.
Good standing clause for no restrictions on business activities
This clause ensures the party is free to engage in its business activities.
The [Party Name] represents and warrants that it is not subject to any legal restrictions or limitations that would impair its ability to conduct its business activities or fulfill its obligations under this Agreement. The [Party Name] agrees to remain free from such restrictions during the term of this Agreement.
Good standing clause for compliance with health regulations
This clause ensures compliance with health regulations.
The [Party Name] represents and warrants that it complies with all applicable health regulations, including any related to employee health and safety, the handling of materials, and the provision of services. The [Party Name] agrees to maintain such compliance during the term of this Agreement.
Good standing clause for the ability to legally contract
This clause ensures the party can legally enter into the contract.
The [Party Name] represents and warrants that it has the legal capacity and authority to enter into and perform its obligations under this Agreement. The [Party Name] agrees to maintain this legal ability throughout the term of the Agreement.
Good standing clause for absence of regulatory sanctions
This clause ensures there are no regulatory sanctions.
The [Party Name] represents and warrants that it has not been subject to any regulatory sanctions, including fines, penalties, or other enforcement actions that would affect its ability to meet its obligations under this Agreement.
Good standing clause for compliance with data protection laws
This clause ensures compliance with data protection laws.
The [Party Name] represents and warrants that it complies with all applicable data protection laws, including the General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and other relevant privacy laws. The [Party Name] agrees to maintain compliance throughout the term of this Agreement.
Good standing clause for no encumbrances on assets
This clause ensures the party’s assets are free of encumbrances.
The [Party Name] represents and warrants that its assets are free from any encumbrances, liens, or claims that could affect its ability to fulfill its obligations under this Agreement. The [Party Name] agrees to promptly resolve any such encumbrances if they arise.
Good standing clause for compliance with environmental laws
This clause ensures compliance with environmental laws.
The [Party Name] represents and warrants that it complies with all applicable environmental laws and regulations. The [Party Name] agrees to maintain compliance with such laws during the term of this Agreement and to address any environmental issues promptly if they arise.
Good standing clause for no failure to comply with contracts
This clause ensures the party has complied with all previous contracts.
The [Party Name] represents and warrants that it is not in default under any other contracts or agreements, and has not failed to perform any obligations under prior agreements. The [Party Name] agrees to maintain this compliance throughout the term of this Agreement.
Good standing clause for corporate governance compliance
This clause ensures compliance with corporate governance standards.
The [Party Name] represents and warrants that it complies with all relevant corporate governance standards, including the proper election of directors, appropriate financial reporting, and the adherence to shareholder rights. The [Party Name] agrees to maintain these standards throughout the term of this Agreement.
Good standing clause for the absence of any legal restrictions
This clause ensures the party is not subject to legal restrictions.
The [Party Name] represents and warrants that it is not subject to any legal restrictions, injunctions, or orders that would impair its ability to perform its obligations under this Agreement. The [Party Name] agrees to inform the other party immediately if such legal restrictions arise.
Good standing clause for the absence of financial distress
This clause ensures the party is not in financial distress.
The [Party Name] represents and warrants that it is not in a state of financial distress, including insolvency, bankruptcy, or pending liquidation, and is fully capable of meeting its financial obligations under this Agreement. The [Party Name] agrees to notify the other party if its financial position deteriorates during the term of the Agreement.
Good standing clause for no criminal or regulatory violations
This clause ensures there are no criminal or regulatory violations.
The [Party Name] represents and warrants that it has not been involved in any criminal or regulatory violations that could adversely affect its ability to perform under this Agreement. The [Party Name] agrees to notify the other party promptly if any such violations occur during the term of the Agreement.
Good standing clause for the ability to continue operations
This clause ensures the party can continue operations.
The [Party Name] represents and warrants that it is able to continue operations and is not under any restriction, order, or event that could hinder its ability to operate or fulfill its obligations under this Agreement. The [Party Name] agrees to inform the other party if any such restrictions or events arise.
Good standing clause for current insurance coverage
This clause ensures the party has current insurance coverage.
The [Party Name] represents and warrants that it has current and valid insurance coverage for all necessary risks, including general liability, professional indemnity, and property insurance, and agrees to maintain such coverage throughout the term of this Agreement.
Good standing clause for compliance with international trade laws
This clause ensures compliance with international trade laws.
The [Party Name] represents and warrants that it is in compliance with all applicable international trade laws and regulations, including export controls and sanctions. The [Party Name] agrees to notify the other party if it becomes subject to any restrictions or violations related to international trade.
Good standing clause for compliance with zoning and land use laws
This clause ensures compliance with zoning and land use laws.
The [Party Name] represents and warrants that it is in compliance with all applicable zoning and land use laws, and that its operations do not violate any local, state, or federal regulations regarding land use. The [Party Name] agrees to remedy any violations promptly.
Good standing clause for maintaining business insurance coverage
This clause ensures the party maintains adequate business insurance.
The [Party Name] represents and warrants that it maintains adequate insurance coverage for its business operations, including property, liability, and worker’s compensation insurance. The [Party Name] agrees to maintain such coverage during the term of this Agreement and provide proof upon request.
Good standing clause for absence of tax arrears
This clause ensures the party has no tax arrears.
The [Party Name] represents and warrants that it has no outstanding tax arrears or penalties. The [Party Name] agrees to promptly settle any tax issues that may arise and provide evidence of compliance with tax authorities during the term of this Agreement.
Good standing clause for no violations of anti-corruption laws
This clause ensures no violations of anti-corruption laws.
The [Party Name] represents and warrants that it has not violated any anti-corruption, bribery, or similar laws and agrees to comply with such laws during the term of this Agreement. The [Party Name] will notify the other party if it is subject to any such violations during the term.
Good standing clause for no changes in organizational structure
This clause ensures no unauthorized changes to the organization.
The [Party Name] represents and warrants that it has not made any unauthorized changes to its organizational structure, including mergers, acquisitions, or structural reorganizations, without informing the other party. The [Party Name] agrees to notify the other party of any such changes promptly.
Good standing clause for no disqualifications from industry certifications
This clause ensures the party maintains necessary industry certifications.
The [Party Name] represents and warrants that it is not disqualified from any industry-specific certifications or accreditations required for performing the obligations under this Agreement. The [Party Name] agrees to maintain such certifications in good standing throughout the term.
Good standing clause for operational readiness
This clause ensures the party is operationally ready.
The [Party Name] represents and warrants that it has the necessary resources, including personnel, equipment, and infrastructure, to fulfill its obligations under this Agreement. The [Party Name] agrees to ensure continued operational readiness throughout the term of this Agreement.
Good standing clause for adherence to reporting standards
This clause ensures the party adheres to reporting standards.
The [Party Name] represents and warrants that it adheres to all applicable reporting standards, including financial and regulatory reporting requirements, and will maintain such adherence during the term of this Agreement. The [Party Name] agrees to provide the necessary reports to the other party as required.
Good standing clause for no unresolved employee disputes
This clause ensures no unresolved employee disputes.
The [Party Name] represents and warrants that it has no unresolved disputes with employees or labor unions that could affect its ability to perform its obligations under this Agreement. The [Party Name] agrees to resolve any disputes promptly and notify the other party if any such disputes arise during the term.
Good standing clause for the absence of bankruptcy proceedings
This clause ensures no bankruptcy proceedings.
The [Party Name] represents and warrants that it is not currently involved in any bankruptcy proceedings and that no action has been taken to file for bankruptcy. The [Party Name] agrees to inform the other party immediately if such proceedings are initiated during the term of this Agreement.
Good standing clause for the party’s compliance with reporting obligations
This clause ensures compliance with reporting obligations.
The [Party Name] represents and warrants that it has fulfilled all required reporting obligations with relevant governmental and regulatory bodies. The [Party Name] agrees to maintain compliance with these obligations throughout the term of this Agreement.
Good standing clause for no overdue payments or obligations
This clause ensures no overdue payments or obligations.
The [Party Name] represents and warrants that it has no overdue payments or financial obligations that would affect its ability to meet its obligations under this Agreement. The [Party Name] agrees to settle any overdue payments promptly if they arise during the term.
Good standing clause for no legal or regulatory investigations
This clause ensures there are no ongoing investigations.
The [Party Name] represents and warrants that it is not under investigation by any regulatory or legal authority for matters that could impact its ability to perform its obligations under this Agreement. The [Party Name] agrees to notify the other party if such investigations are initiated during the term of this Agreement.
Good standing clause for compliance with trade secrets and intellectual property laws
This clause ensures compliance with intellectual property laws.
The [Party Name] represents and warrants that it complies with all applicable trade secrets, intellectual property, and proprietary information laws. The [Party Name] agrees to maintain this compliance and avoid the unauthorized use of third-party intellectual property during the term of this Agreement.
Good standing clause for absence of criminal fines
This clause ensures there are no criminal fines.
The [Party Name] represents and warrants that it has not been subject to any criminal fines, sanctions, or penalties that could affect its ability to perform its obligations under this Agreement. The [Party Name] agrees to resolve any such issues promptly and inform the other party if any arise.
Good standing clause for no unresolved environmental issues
This clause ensures there are no unresolved environmental issues.
The [Party Name] represents and warrants that it is not involved in any unresolved environmental issues, including violations of environmental laws or pending environmental claims, that could impair its ability to perform under this Agreement.
Good standing clause for compliance with financial covenants
This clause ensures compliance with financial covenants.
The [Party Name] represents and warrants that it complies with all financial covenants outlined in its financial agreements or credit facilities. The [Party Name] agrees to maintain compliance with these covenants throughout the term of this Agreement.
Good standing clause for regular updates on compliance status
This clause requires regular updates on compliance status.
The [Party Name] agrees to provide regular updates to the other party regarding its compliance with the obligations under this Agreement, including legal, regulatory, and financial matters. These updates will be provided at least [insert frequency] and will include any changes in the party’s standing.
Good standing clause for adherence to ethical business practices
This clause ensures adherence to ethical business practices.
The [Party Name] represents and warrants that it conducts its business in accordance with high ethical standards and in compliance with all relevant anti-bribery, anti-corruption, and other ethical conduct laws. The [Party Name] agrees to maintain such standards throughout the term of this Agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.