Common use of Due Organization and Existence Clause in Contracts

Due Organization and Existence. The Entity is a California corporation duly organized and existing under the laws of the State of California; duly authorized and licensed to do business in the State of California; has the power to enter into this Facilities Lease and the Site Lease; is possessed of full power to own, rent and hold real and personal property, and to lease and sell the same; has duly authorized the execution and delivery of all of the aforesaid agreements; and is empowered and fully capable of undertaking the development and construction of the Project as described herein and in the documents referred to herein.