Common use of Due Organization; Power and Authority Clause in Contracts

Due Organization; Power and Authority. Each Purchaser is an: exempted company with limited liability, corporation, limited liability company or partnership, as the case may be, duly incorporated or formed, validly existing and in good standing under the laws of its jurisdiction of incorporation or formation and is duly qualified as a foreign corporation to transact business and is in good standing in each jurisdiction in which such qualification is required, other than any failures to so qualify or to be in good standing which has not or is not reasonably likely to have a Material Adverse Effect.