Common use of Good Standing Certificate or Equivalent Clause in Contracts

Good Standing Certificate or Equivalent. At it sole discretion, --------------------------------------- DoveBid shall have received evidence satisfactory to it that OWP is validly existing, in good standing and authorized to do business and that all state franchise and/or income tax returns and taxes due by OWP for all periods prior to the Closing have been filed and paid. DoveBid's failure to require or receive such evidence in no way vitiates or affects OWP's or the Principal Shareholder's representations and warranties regarding such matters and DoveBid's reliance on such representations or warranties.