Common use of Organization, Existence and Qualification Clause in Contracts

Organization, Existence and Qualification. Buyer is a Texas corporation duly formed and validly existing under the Laws of the jurisdiction of its formation, and Buyer has all requisite power and authority to own and operate its property and to carry on its business as now conducted. Buyer is duly licensed or qualified to do business as a foreign corporation in all jurisdictions in which it carries on business or owns assets and such qualification is required by Law. Buyer is duly licensed or qualified to do business in Texas.

Organization, Existence and Qualification. Buyer is a Texas corporation limited partnership duly formed and validly existing under the Laws of the jurisdiction of its formation, formation and Buyer has all requisite power and authority to own and operate its property and to carry on its business as now conducted. Buyer is duly licensed or qualified to do business as a foreign corporation limited partnership in all jurisdictions in which it carries on business or owns assets and such qualification is required by LawLaw except where the failure to be so qualified would not have a material adverse effect upon the ability of Buyer to consummate the transactions contemplated by this Agreement. Buyer is duly licensed or qualified to do business in Texas.