Common use of Organization, Standing and Qualification Clause in Contracts

Organization, Standing and Qualification. (a) The Purchaser (i) is duly organized, validly existing and in good standing under the Laws of the place of its incorporation or establishment, and (ii) has all requisite power and authority to own the Purchased Shares. (b) The Purchaser is not in, nor is it anticipated to enter into, liquidation, dissolution, bankruptcy, insolvency or winding-up.

Organization, Standing and Qualification. (a) The Such Purchaser (i) is duly organized, validly existing and in good standing (to the extent such concept is recognized) under the Laws of the place its jurisdiction of its incorporation or establishment, organization and (ii) has all requisite corporate power and authority to own the Purchased Sharescarry on its business as presently conducted in all material respects. (b) The Such Purchaser is has not in, nor is it anticipated to enter into, filed (or has had filed against it) any petition for its liquidation, dissolution, bankruptcy, insolvency bankruptcy or winding-up, or is insolvent under the Laws of its jurisdiction of organization.