Common use of Organization and Ownership Clause in Contracts

Organization and Ownership. (a) The Company is a corporation duly organized, validly existing and in good standing under the Laws of the State of Nevada, with full corporate power and authority to conduct its Business as it is now being conducted, to own or use the properties and assets that it purports to own or use, and to perform its obligations under all Contracts. (b) Seller has delivered copies to Purchaser of the Company’s Organizational Documents. (c) The Company does not own, directly or indirectly, or have the right to acquire, any share of capital stock, partnership interest, joint venture interest or other security or equity interest in any corporation, limited liability company, partnership, joint venture or other entity.