Common use of Entity Existence Clause in Contracts

Entity Existence. Client is a corporation or other legal entity duly organized, validly existing, and in good standing under the laws of the state of its formation, with full authority to own, lease and operate property and carry on business as it is now being conducted. Client is duly qualified to do business in and is in good standing in every jurisdiction where such qualification is necessary.

Entity Existence. Client is a corporation or other legal entity duly organized, validly existing, and in good standing under the laws of the state of its their formation, with full power and authority and all necessary governmental authorizations to own, lease and operate property and carry on their business as it is now being conducted. Client is duly qualified to do business in and is in good standing in every jurisdiction where in which the nature of its business or the property owned or leased by it makes such qualification is qualifications necessary.