Common use of Organized and Existing Clause in Contracts

Organized and Existing. Buyer is a corporation duly organized, validly existing and in good standing under the laws of the State of Kansas, and Buyer is qualified and in good standing to do business as a foreign corporation in each state or other jurisdiction where its business requires such qualification and where the failure to be so qualified and in good standing would not reasonably be expected to have a material adverse effect on the ability of Buyer to perform its obligations under this Agreement or any other Transaction Document or the legality, validity or enforceability of this Agreement or any other Transaction Document.