Common use of Validly Existing in Good Standing Clause in Contracts

Validly Existing in Good Standing. Product Distributor represents and warrants that it is a corporation duly organized and validly existing in good standing under the laws of the State of California, and is qualified to act as a broker-dealer in the states and other jurisdictions in which it transacts business. Without limiting the generality of the foregoing, Product Distributor represents and warrants that it is the distributor and principal underwriter of the Contracts and Policies and is registered as a broker-dealer under the 1934 Act and is a member in good standing of FINRA. Product Distributor will maintain all registrations, qualifications and memberships required by the terms of this Agreement in full force and effect throughout the term of this Agreement.