- The PROPONENT-OPERATOR warrants that it is a corporation or a partnership duly organized and validly existing under the laws of the Republic of the Philippines. It has all requisite power, authority and legal right to execute and deliver this Agreement and to perform its obligations thereunder; and has taken all appropriate and necessary corporate and legal action and obtained all necessary permits and approvals for the execution, delivery and performance of this Agreement and all other instruments, or documents contemplated hereunder.