Common use of Due Organization; Power and Good Standing Clause in Contracts

Due Organization; Power and Good Standing. Each of Management, Management Sub and Lessee is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and has the requisite power and authority to own, lease and operate its properties and to conduct its business as now conducted by it. Each of Management, Management Sub and Lessee has all requisite power and authority to enter into this Agreement and the Implementing Agreements to which it is a party and to perform its obligations hereunder and thereunder. Each of Management, Management Sub and Lessee is qualified to do business and is in good standing as a foreign corporation in all jurisdictions in which it conducts its business, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Complete and correct copies of the Certificate of 17 13 Incorporation and Bylaws of Management and Lessee and the Certificate of Formation and limited liability company agreement of Management Sub are set forth in Schedule 3.1(a) hereto.

Due Organization; Power and Good Standing. Each of Management, Management Sub and Lessee is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and has the requisite power and authority to own, lease and operate its properties and to conduct its business as now conducted by it. Each of Management, Management Sub and Lessee has all requisite power and authority to enter into this Agreement and the Implementing Agreements to which it is a party and to perform its obligations hereunder and thereunder. Each of Management, Management Sub and Lessee is qualified to do business and is in good standing as a foreign corporation in all jurisdictions in which it conducts its business, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Complete and correct copies of the Certificate of 17 13 Incorporation and Bylaws of Management and Lessee and the Certificate of Formation and limited liability company agreement of Management Sub are set forth in Schedule 3.1(a) hereto.