Common use of Organization and Standing of the Transferor Company Clause in Contracts

Organization and Standing of the Transferor Company. The Transferor Company is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Maryland. The Transferor Company has all requisite power to own and operate the Property and to carry on its business as presently being conducted and as proposed to be conducted. The Transferor Company is duly qualified to do business in all jurisdictions in which the failure to be so qualified would have a material adverse effect on the Transferor Company's business (a "Material Adverse Effect").