Common use of Organization, Standing and Authority of the Company Clause in Contracts

Organization, Standing and Authority of the Company. The Company is an --------------------------------------------------- insurance company duly organized, validly existing and in good standing as a corporation under the laws of the State of Delaware and has all requisite corporate power and authority to carry on the operations of its business as they are now being conducted. The Company (or the applicable predecessor to the Company) held all requisite licenses or certificates of authority required to issue the Direct Contracts when such Direct Contracts were issued. The Company holds all requisite licenses or certificates of authority required to reinsure the Assumed Contracts.

Organization, Standing and Authority of the Company. The Company is an --------------------------------------------------- insurance company a corporation duly organized, organized and validly existing and in good standing as a corporation under the laws of the State of Delaware and has all requisite with full corporate power and authority to own or lease all of its properties and assets and to carry on its business as now conducted and is duly licensed or qualified to do business and is in good standing in each jurisdiction in which its ownership or leasing of property or the operations conduct of its business as they are now being conducted. The Company (requires such licensing or qualification and where the applicable predecessor failure to the Company) held all requisite licenses be so licensed, qualified or certificates of authority required to issue the Direct Contracts when such Direct Contracts were issued. The Company holds all requisite licenses or certificates of authority required to reinsure the Assumed Contractsin good standing would have a Material Adverse Effect.

Organization, Standing and Authority of the Company. The Company is an --------------------------------------------------- insurance company a duly organized, validly existing and in good standing as a corporation under the laws of the State of Delaware and has all requisite with full corporate power and authority to carry on its business as now conducted and is duly qualified to do business in any jurisdiction where its ownership or leasing of property or the operations conduct of its business as they are now being conducted. The Company (requires such qualification, except where the failure to have such corporate power and authority or the applicable predecessor to so qualify would not have a Material Adverse Effect on the Company) held all requisite licenses or certificates of authority required to issue the Direct Contracts when such Direct Contracts were issued. The Company holds all requisite licenses or certificates of authority required to reinsure the Assumed Contracts.

Organization, Standing and Authority of the Company. The Company is an --------------------------------------------------- insurance company duly organized, validly existing and in good standing as a corporation under the laws of the State of Delaware and has all requisite corporate power and authority to carry on the operations of its business as they are now being conducted. The Company (or the applicable predecessor to the Company) held all requisite licenses or certificates of authority required to issue the Direct Reinsured Contracts when such Direct Reinsured Contracts were issued. The Company holds all requisite licenses or certificates of authority required to reinsure the Assumed Contracts.