Common use of Organization and Good Standing; Capitalization Clause in Contracts

Organization and Good Standing; Capitalization. The Company is a corporation duly organized and existing and in good standing under the laws of its jurisdiction of incorporation. The Company has the corporate power and authority to own and operate its properties and to carry on its business as now conducted and as proposed to be conducted and is duly qualified as a foreign corporation and in good standing in all jurisdictions in which it is doing business, except where failure to be so qualified or in good standing, singly or in the aggregated, has not had and will not have a Material Adverse Effect.

Organization and Good Standing; Capitalization. (a) The Company is a corporation duly organized and validly existing and in good standing under the laws of its jurisdiction the State of incorporation. The Company New York and has the corporate power and authority to own own, and operate its properties assets and to carry on its business as now conducted and as it is proposed to be conducted and conducted. The Company is duly qualified or authorized to transact business as a foreign corporation and is in good standing in all jurisdictions under the laws of each jurisdiction in which it is doing businessthe conduct of its business or the ownership of its assets requires such qualification or authorization, except where the failure to be so qualified or in good standing, singly or in the aggregated, has not had and will qualify would not have a Material Adverse EffectEffect on the Company.