Common use of Organization, Authority and Qualification Clause in Contracts

Organization, Authority and Qualification. The Assignor is duly organized, validly existing and in good standing under the laws of its jurisdiction of formation and has all requisite power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the Transactions. The execution and delivery by the Assignor of this Agreement, the performance by the Assignor of its obligations hereunder and the consummation by the Assignor of the Transactions have been duly authorized by all requisite action on the part of the Assignor and its stockholder.

Organization, Authority and Qualification. The Assignor Assignee is duly organized, validly existing and in good standing under the laws of its jurisdiction of formation and has all requisite power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the Transactions. The execution and delivery by the Assignor Assignee of this Agreement, the performance by the Assignor Assignee of its obligations hereunder and the consummation by the Assignor Assignee of the Transactions have been duly authorized by all requisite action on the part of the Assignor Assignee and its stockholder.