Common use of Organization of DFTS Clause in Contracts

Organization of DFTS. DFTS is a corporation duly organized, valid existing and in good standing under the laws of the State of Delaware and has all requisite corporate and other power, authority and legal right to own, lease and operate the properties used in its business, to carry on its business as presently conducted and to execute, deliver and perform its obligations under this Agreement. DFTS is qualified or licensed as a foreign corporation in each jurisdiction or place in which it owns or leases real property or in which it transacts business and where the nature of the business transacted legally requires such registration or qualification and the failure to be so registered or qualified could have a material adverse effect on the business or financial condition of DFTS.