Common use of Organization, Good Standing and Foreign Qualification Clause in Contracts

Organization, Good Standing and Foreign Qualification. Seller is a Colorado corporation duly incorporated and validly existing and in good standing under the laws of. Seller or its Subsidiaries are duly licensed or qualified to do business as a foreign corporation and is in good standing under the laws of each other jurisdiction in which the character of the properties owned or leased by it therein or in which the transaction of business makes such qualification necessary, except where the failure to so qualify would not have a material adverse effect on Sellers.

Organization, Good Standing and Foreign Qualification. Seller is a Colorado corporation limited liability company duly incorporated formed and validly existing and in good standing under the laws of. Seller or its Subsidiaries are duly licensed or qualified to do business as a foreign corporation and is in good standing under the laws of each other jurisdiction in which the character of the properties owned or leased by it therein or in which the transaction of business makes such qualification necessary, except where the failure to so qualify would not have a material adverse effect on Sellers.