Common use of Good Standing of Company Clause in Contracts

Good Standing of Company. The Company has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Nevada and has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement, the Disclosure Package and the Prospectus and to enter into and perform its obligations under this Agreement; and the Company is duly qualified as a foreign corporation to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not have a material adverse effect, and would not result in any development which is reasonably likely to have a material adverse effect, on the condition, financial or otherwise, results of operations or business affairs of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (any such effect or development, a “Material Adverse Effect”).

Good Standing of Company. The Company has been duly organized incorporated and is validly existing as a corporation and is in good standing under the laws of the State of Nevada and has Delaware, with full corporate power and authority to own, own and lease and operate its properties and to conduct its business as described in the Registration Statement, the Disclosure Package and the Prospectus and to enter into and perform its obligations under this Agreement; and the Company is duly qualified or registered as a foreign corporation to transact business and is in good standing in each other jurisdiction in which such qualification or registration is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so to qualify or to be in good standing would not have not, individually or in the aggregate, result in a material adverse effect, and would not result in any development which is reasonably likely to have a material adverse effect, effect on the condition, financial or otherwise, or in the results of operations operations, properties, business or business affairs prospects of the Company and its subsidiaries the Subsidiaries (as defined below) considered as one enterprise, whether or not arising in the ordinary course of business (any such effect or development, a “Material Adverse Effect”).