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

Organization, Good Standing, Power and Qualification. To the extent such party is not a natural person, such party is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and has all requisite corporate, limited partnership or limited liability company power and authority to own and operate its properties and assets and to carry on its business as presently conducted and as proposed to be conducted, to execute and deliver this Agreement and to consummate the transactions contemplated hereby.