Common use of Organization, Power and Qualification Clause in Contracts

Organization, Power and Qualification. Spiegel and Xxxxx Xxxxx are corporations duly organized, validly existing and in good standing under the laws of the state of Delaware and have full corporate power and authority to enter into this Agreement and to carry out the provisions of this Agreement. Each entity is duly qualified and in good standing to do business in all jurisdictions where they are located, except where the failure to so qualify would not have a material adverse effect on their business, or where the failure to so qualify would not have a material adverse effect on Spiegel Group's or Bank's ability to continue operation of the Plan.