Common use of REPRESENTATIONS, WARRANTIES AND COVENANTS General Clause in Contracts

REPRESENTATIONS, WARRANTIES AND COVENANTS General. Each Party makes the following representations, warranties and covenants: Good Standing. Such Party is duly organized, validly existing and in good standing under the laws of the state in which it is organized, formed, or incorporated, as applicable; that it is qualified to do business in the State of New York; and that it has the corporate power and authority to own its properties, to carry on its business as now being conducted and to enter into this Agreement and carry out the transactions contemplated hereby and perform and carry out all covenants and obligations on its part to be performed under and pursuant to this Agreement.