Common use of Good Standing of the Company and Iridium Clause in Contracts

Good Standing of the Company and Iridium. The Company has been duly incorporated and is validly existing as an exempted company in good standing under the laws of Bermuda and has all requisite power and authority to conduct its business as described in the Prospectuses and to enter into and perform its obligations under this Agreement; and the Company has been duly qualified as a foreign company to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect. Iridium has been duly formed and is an existing limited liability company in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectuses and to enter into and perform its obligations under this Agreement; and Iridium has been duly qualified as a foreign limited liability company to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.

Good Standing of the Company and Iridium. The Company has been duly incorporated and is validly existing as an exempted company in good standing under the laws of Bermuda and has all requisite power and authority to conduct its business as described in the Prospectuses and to enter into and perform its obligations under this Agreement; and the Company has been duly qualified as a foreign company to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect. Iridium has been duly formed and is an existing limited liability company in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectuses and to enter into and perform its obligations under this Agreement; and Iridium has been duly qualified as a foreign limited liability company to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect.