Common use of Trust and Company Good Standing Clause in Contracts

Trust and Company Good Standing. The Trust has been duly formed and is validly existing as a trust under the laws of Ontario and the Company has been duly incorporated and is validly existing as a corporation under the laws of Canada, in each case, with full power and authority to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Canadian Final Prospectus, the Disclosure Package and the U.S. Final Prospectus, and is duly qualified to transact its business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not have a material adverse effect on the condition (financial or otherwise), earnings, business or properties of the Trust or the Company and its subsidiaries, taken as a whole;

Trust and Company Good Standing. The Trust has been duly formed and is validly existing as a trust under the laws of Ontario and the Company has been duly incorporated and is validly existing as a corporation under the laws of Canada, in each case, with full power and authority to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Canadian Final Prospectus, the Disclosure Package and the U.S. Final Prospectus, and is duly qualified to transact its business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing would not have a material adverse effect on the condition (financial or otherwise), earnings, business or properties of the Trust or the Company and its subsidiaries, taken as a whole;