Common use of Organization, Corporate Power and Qualification Clause in Contracts

Organization, Corporate Power and Qualification. NBC and its subsidiaries are validly existing and in good standing with all applicable authorities and are duly qualified to do business in each jurisdiction in which such corporation and its subsidiaries conduct business. NBC has the corporate power and authority and has received all appropriate regulatory authorizations to own or lease all of its properties and to carry on its businesses as they are now being conducted.