Common use of Existence; Subsidiaries Clause in Contracts

Existence; Subsidiaries. Each of the Loan Parties is (a) duly formed, validly existing, and in good standing under the laws of the jurisdiction of its formation, (b) duly qualified as a foreign entity and is licensed and in good standing in each jurisdiction where its ownership, lease or operation of Property or conduct of its business requires such qualification or license other than such failures to so qualify that could not, individually or in the aggregate reasonably be expected to have a Material Adverse Effect. Each of the Loan Parties is licensed and in good standing to supply natural gas or electricity or related products by each of the state public utility commissions identified on Schedule 4.01, as the same may be updated from time to time.