Common use of Formation and Organization Clause in Contracts

Formation and Organization. Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, has requisite power and authority to carry on its business as now conducted, and to own and lease operate its properties and other assets as now owned or leased.

Formation and Organization. Purchaser is a corporation limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware, has all requisite power and authority to carry on its business as now conducted, and to own and lease operate its properties and other assets as now owned or leased.