Common use of Conduct of Business; Compliance with Law Clause in Contracts

Conduct of Business; Compliance with Law. The Company and each of its subsidiaries have all requisite corporate power and authority, and has all necessary Permits, to own or lease its respective properties and conduct its respective business as described in the SEC Filings. The Company and each of its subsidiaries have been operating their respective businesses in compliance with all such Permits. The disclosures in the SEC Filings concerning the effects of federal, state and local regulation on the Company's and its subsidiaries business as currently conducted and contemplated are correct in all respects and do not omit to state a material fact. The Company and its subsidiaries are in compliance with all Laws.