Common use of Dragon Clause in Contracts

Dragon. (a) is a corporation duly incorporated under the laws of the State of Florida, (b) is duly organized, validly exists and is in good standing under the laws of its jurisdiction of incorporation, (c) is in good standing in each jurisdiction in which the nature of the business conducted by it, except where the failure to do so would not have a material adverse effect on the organization, operations, affairs, business, properties, prospects or financial condition or position of the Business, and (d) has the corporate capacity, right and corporate power to carry on its business as now being conducted.