Common use of Such Xx Clause in Contracts

Such Xx. Xxxxxx Party is a corporation duly incorporated and validly existing under the Corporations Act of the Commonwealth of Australia as in effect at the date of this agreement; such Xx.Xxxxxx Party has the power and authority (corporate and other) to own its properties and conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement and the Basic Documents to which it is a party and carry out the transactions contemplated by such Basic Documents; such Xx.Xxxxxx Party has been duly qualified or licensed for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties, or conducts any business, so as to require such qualification or licensing, other than where the failure to be so qualified or licensed or in good standing would not have a material adverse effect on the transactions contemplated herein or in the Basic Documents.