Common use of Due Organization and Power Clause in Contracts

Due Organization and Power. Purchaser is duly organized, validly existing and in good standing under the law of the Cayman Islands. Purchaser (A) has all requisite corporate power and authority to own its properties and assets and to carry on its business as it is now being conducted and (B) is in good standing and is duly qualified to transact business in each jurisdiction in which it is required to be so qualified, except, in the case of clause (A) or (B), where the failure to have such power and authority or to be in good standing would not reasonably be expected to prevent, materially delay or materially impede the ability of Purchaser to consummate the transactions contemplated by this Agreement.