Common use of Organization and Qualification of Each Seller Clause in Contracts

Organization and Qualification of Each Seller. Each Seller is a limited liability company duly organized, validly existing, and in good standing under the laws of its state of organization. Each Seller has all requisite power and authority to own and lease the properties and assets it currently owns and leases and to conduct its activities as such activities are currently conducted. Each Seller is duly qualified to do business as a foreign limited liability company and is in good standing in all jurisdictions in which the ownership or leasing of the properties and assets owned or leased by it or the nature of its activities makes such qualification necessary.