Common use of Organizational Existence; Compliance with Law Clause in Contracts

Organizational Existence; Compliance with Law. Each of the Consolidated Companies (i) is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its organization, (ii) has the corporate or other organizational power and authority and the legal right to own and operate its property and to conduct its business, (iii) is duly qualified as a foreign corporation or other organization and in good standing under the laws of each jurisdiction where its ownership of property or the conduct of its business requires such qualification, except where a failure to be so qualified could not reasonably be expected to have a Materially Adverse Effect, and (iv) is in compliance with all Requirements of Law except where the failure to be in compliance could not reasonably be expected to have a Materially Adverse Effect and has not received any notice of any violation of any Requirement of Laws that could reasonably be expected to have a Materially Adverse Effect.

Organizational Existence; Compliance with Law. Each of the Consolidated Companies (i) is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its organization, (ii) has the corporate or other organizational power and authority and the legal right to own and operate its property and to conduct its business, (iii) is duly qualified as a foreign corporation or other organization and in good standing under the laws of each jurisdiction where its ownership of property or the conduct of its business requires such qualification, except where a failure to be so qualified could not reasonably be expected to have a Materially Adverse Effect, and (iv) is in compliance with all Requirements of Law except where the failure to be in compliance could not reasonably be expected to have a Materially Adverse Effect and has not received any notice of any violation of any Requirement of Laws that could would reasonably be expected to have a Materially Adverse Effect.

Organizational Existence; Compliance with Law. Each of the Consolidated Companies Borrower and its Subsidiaries (i) is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its organization, (ii) has the corporate or other organizational power and authority and the legal right to own and operate its property and to conduct its business, (iii) is duly qualified as a foreign corporation or other organization and in good standing under the laws of each jurisdiction where its ownership of property or the conduct of its business requires such qualification, except where a failure to be so qualified could would not reasonably be expected to have a Materially Adverse Effect, and (iv) is in compliance with all Requirements of Law except where the failure to be in compliance could would not reasonably be expected to have a Materially Adverse Effect and has not received any notice of any violation of any Requirement of Laws that could reasonably be expected to have a Materially Adverse Effect.