Common use of Status and Authority of Susanville; Organizational Documents Clause in Contracts

Status and Authority of Susanville; Organizational Documents. (a) Susanville (i) is a limited liability company duly formed, validly existing and in good standing under the laws of the State of California, (ii) has all requisite limited liability company power and authority to conduct its business and to own or lease its properties, as presently conducted, owned or leased, and (iii) is duly qualified to do business in each jurisdiction in which the nature of its business or the location of its assets requires it to be so qualified, except where the failure to so qualify does not have a material adverse effect on the business, operations, assets, or condition (financial or otherwise) or prospects of Susanville (a “Material Adverse Effect”). (b) Susanville has no subsidiaries or any equity interest or investment in any corporation, partnership, limited liability company, association, joint venture or other business organization.

Status and Authority of Susanville; Organizational Documents. (a) Susanville (i) is a limited liability company duly formed, validly existing and in good standing under the laws of the State of California, (ii) has all requisite limited liability company power and authority to conduct its business and to own or lease its properties, as presently conducted, owned or leased, and (iii) is duly qualified to do business in each jurisdiction in which the nature of its business or the location of its assets requires it to be so qualified, except where the failure to so qualify does not have a material adverse effect on the business, operations, assets, or condition (financial or otherwise) or prospects of Susanville (a “"Material Adverse Effect”"). (b) Susanville has no subsidiaries or any equity interest or investment in any corporation, partnership, limited liability company, association, joint venture or other business organization.