Common use of Organization, Power, Standing and Qualification Clause in Contracts

Organization, Power, Standing and Qualification. The QI is a corporation duly organized, validly existing, and in good standing under the laws of the state of its incorporation, and the QI has the requisite corporate power and authority to carry on its business as it is presently being conducted, and as it is intended and reasonably contemplated to be conducted under this Agreement and as part of the LKE Program, and to own and operate the property and assets presently owned and operated by it, if any, and contemplated to be owned and operated by it in the future. The QI will only qualify to do business or register as a sales and use tax vendor in those states requested in writing by the Exchangor, and all costs and expenses of same shall be paid solely by the Exchangor. The QI shall at all times operate in a manner consistent with its certificate of incorporation and its bylaws.

Organization, Power, Standing and Qualification. The QI is a corporation limited liability company duly organized, validly existing, and in good standing under the laws of the state of its incorporationformation, and the QI has the requisite corporate power and authority to carry on its business as it is presently being conducted, and as it is intended and reasonably contemplated to be conducted under this Agreement and as part of the LKE ProgramPrograms, and to own and operate the property and assets presently owned and operated by it, if any, and contemplated to be owned and operated by it in the future. The QI will only qualify to do business or register as a sales and use tax vendor in those states requested in writing by the Exchangoran Exchanger, and all costs and expenses of same shall be paid solely by the Exchangorsuch Exchanger. The QI shall at all times operate in a manner consistent with its certificate of incorporation formation and its bylawsoperating agreement.