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Wow! Monday Morning!
How's AON as a company?
what are the other three?
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Wow! Monday Morning!
How's AON as a company?
what are the other three?
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In a recent case defendants tried to use my clients' failure to register as a foreign corp doing buisness in California as grounds for dismissal. Many $$ were spent fighting on this issue. Court didn't render an opinion because we compelled to arbitration.
Surprised, since in California this seems particularly moot, since the defect can be cured? See United Medical Management Ltd. v. Gatto (1996) 49 Cal. App. 4th 1732, 57.
In the emerging companies space basically means you won’t get funding until you are.
But even outside of that context, even for a vanilla credit facility I’m surprised you were able to get lender counsel to close over a lack of good standing.
In that case, agreed, and your approach is standard in my experience.
Rising Star
Ditto. Was a sr. Corp para in biglaw. for 10 yrs before becoming an atty. I've never seen any ill effect, ever. It's closed over in lots of financings, as long as it's addressed later.
Rising Star
Depends on whether it's a post closing covenant....