Common use of Good Standing of the Subsidiaries Clause in Contracts

Good Standing of the Subsidiaries. Each of the Company's Significant Subsidiaries (as defined in Regulation S-X under the Securities Act) has been duly incorporated or organized and is validly existing in good standing (where legally applicable) under the laws of the jurisdiction of its incorporation or organization and has the necessary power and authority to conduct its business and to own its properties or hold under lease properties leased by it and operate its properties as described in the General Disclosure Package and the Final Prospectus. Each of the Company's Significant Subsidiaries is duly qualified to do business and is in good standing in each jurisdiction in which the nature and extent of the business conducted by it, or the ownership or leasing of its properties, requires such qualification, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect. Except as described in the General Disclosure Package, all of the issued shares of capital stock, membership interests or equivalent ownership interests, as the case may be, of the Company's Significant Subsidiaries have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims.

Good Standing of the Subsidiaries. Each of the Company's ’s Significant Subsidiaries (as defined in Regulation S-X under the Securities Act) has been duly incorporated or organized and is validly existing in good standing (where legally applicable) under the laws of the jurisdiction of its incorporation or organization and has the necessary power and authority to conduct its business and to own its properties or hold under lease properties leased by it and operate its properties as described in the General Disclosure Package and the Final Prospectus. Each of the Company's ’s Significant Subsidiaries is duly qualified to do business and is in good standing in each jurisdiction in which the nature and extent of the business conducted by it, or the ownership or leasing of its properties, requires such qualification, except where the failure so to qualify or to be in good standing would not result in a Material Adverse Effect. Except as described in the General Disclosure Package, all of the issued shares of capital stock, membership interests or equivalent ownership interests, as the case may be, of the Company's ’s Significant Subsidiaries have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims.