Common use of DUE ORGANIZATION, GOOD STANDING AND AUTHORITY Clause in Contracts

DUE ORGANIZATION, GOOD STANDING AND AUTHORITY. The Company is duly organized, validly existing and in good standing under the laws of the state of Delaware and is qualified to do business in every jurisdiction where necessary in light of its business and properties, except where the failure to be so qualified would not have a material adverse effect on the business or financial condition of the Company. The Company has full power, authority and legal right (a) to own or lease its assets and properties and to conduct its business as now being conducted, (b) to incur its obligations under and to perform the terms of this Agreement, the Lender Note and the Lender Warrant, and (c) to issue the Lender Warrant and Warrant Stock (as defined in the Lender Warrant).

DUE ORGANIZATION, GOOD STANDING AND AUTHORITY. The Company is duly organized, validly existing and in good standing under the laws of the state of Delaware and is qualified to do business in every jurisdiction where necessary in light of its business and properties, except where the failure to be so qualified would not have a material adverse effect on the business or financial condition of the Company. The Company has full power, authority and legal right (a) to own or lease its assets and properties and to conduct its business as now being conducted, (b) to incur its obligations under and to perform the terms of this Agreement, the Lender Note and the Lender Warrant, and (c) to issue the Lender Warrant and Warrant Stock (as defined in the Lender Warrant).