Common use of POC Clause in Contracts

POC. POC (a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation; (b) is duly qualified as a foreign corporation and in good standing under the laws of each jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification; (c) has all necessary power pursuant to proper authorization to enable it to enter into the Credit Documents to which it is a party; (d) is duly qualified to do business in and is in good standing under the laws of each other jurisdiction where the failure to do so could have a Material Adverse Effect; and (e) has the corporate or other necessary power and authority, and the legal right, to conduct the business in which it is currently engaged.

POC. POC (a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation; (b) is duly qualified as a foreign corporation and in good standing under the laws of each jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification; (c) has all necessary power pursuant to proper authorization to enable it to enter into the Credit Documents to lo which it is a party; (d) is duly qualified to do business in and is in good standing under the laws of each other jurisdiction where the failure to do so could have a Material Adverse Effect; and (ec) has the corporate or other necessary power and authority, and the legal right, to conduct the business in which it is currently engaged.