Common use of Business Entity; Authority Clause in Contracts

Business Entity; Authority. Client is a duly organized, validly existing corporation or limited liability company and in good standing under the laws of the state of its organization and has obtained all necessary licenses and approvals in all jurisdictions where failure to be so qualified and in good standing would have a material adverse effect on Client’s business and operations or on PFSC’s ability to provide the Services contemplated by this Agreement.

Business Entity; Authority. Client is is, and shall at all times during the term of this Agreement be, a duly organized, validly existing corporation or limited liability company and in good standing under the laws of the state of its organization and has obtained in possession of all necessary licenses and approvals in all jurisdictions where failure to be so qualified and in good standing would have a material adverse effect on Client’s business and operations or on PFSC’s ability to provide the Services contemplated by this Agreement.