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.