Common use of Organization, Good-Standing and Conduct of Business Clause in Contracts

Organization, Good-Standing and Conduct of Business. Coastal is a bank, within the meaning of Section 3(a)(6) of the 1934 Act, duly organized, validly existing and in good standing under the laws of the state of Washington, and has full power and authority and all necessary and/or applicable governmental and regulatory authorization and licenses to own its properties and assets, to carry on as an insured depository institution, and to carry on its business as it is presently being conducted.

Organization, Good-Standing and Conduct of Business. Coastal is a bank, within the meaning of Section 3(a)(6) of the 1934 ActSecurities Exchange Act of 1934, as amended, duly organized, validly existing and in good standing under the laws of the state of Washington, and has full power and authority and all necessary and/or applicable governmental and regulatory authorization authorizations and licenses to own its properties and assets, to carry on as an insured depository institution, institution and to carry on its business as it is presently being conducted.