Common use of Corporate Status and Authority Clause in Contracts

Corporate Status and Authority. The Purchaser and Neptune are valid and subsisting corporations, duly incorporated and in good standing under the laws of the State of California and Florida, respectively, and are duly qualified to carry on their businesses as they are presently carried on and are duly qualified and authorized to carry on business and are in good standing as a foreign corporation in each jurisdiction in which the character of their properties or the nature of their businesses made such qualification or authorization necessary and have all requisite power and authority to carry on their business as they are now carried on and to own, lease and operate their properties and assets.

Corporate Status and Authority. The Purchaser and Neptune are valid and subsisting corporations, duly incorporated and in good standing under the laws of the State of California Oregon and the State of Florida, respectively, and are duly qualified to carry on their businesses as they are presently carried on and are duly qualified and authorized to carry on business and are in good standing as a foreign corporation in each jurisdiction in which the character of their properties or the nature of their businesses made such qualification or authorization necessary and have all requisite power and authority to carry on their business as they are now carried on and to own, lease and operate their properties and assets.