Common use of Qualification as Foreign Entities Clause in Contracts

Qualification as Foreign Entities. Each of the Texas --------------------------------- Company and each Texas Company Subsidiary is duly licensed or qualified to do business and, if applicable, is in good standing, in each state or other jurisdiction in which the character of the properties owned or leased by it or the nature of the business conducted by it requires it to be so licensed or qualified, except where the failure to be so licensed, qualified or in good standing would not have a material adverse effect on the Texas Company.

Qualification as Foreign Entities. Each of the Texas --------------------------------- ---------------------------------- Company and each Texas Company Subsidiary is duly licensed or qualified to do business and, if applicable, is in good standing, in each state or other jurisdiction in which the character of the properties owned or leased by it or the nature of the business conducted by it requires it to be so licensed or qualified, except where the failure to be so licensed, qualified or in good standing would not have a material adverse effect on the Texas Company.