Common use of The Business Subsidiaries Clause in Contracts

The Business Subsidiaries. Each Business Subsidiary is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and is duly qualified to conduct business under the laws of each jurisdiction where the character of the properties owned, leased or operated by it or the nature of its activities makes such qualification necessary, except for any such failure to be qualified that, individually or in the aggregate, is not reasonably likely to result in a Business Material Adverse Effect. Each Business Subsidiary has all requisite corporate or similar power and authority to carry on the business in which it is now engaged and to own and use the properties now owned and used by it.

The Business Subsidiaries. Each Business Subsidiary is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and is duly qualified to conduct business and is in good standing under the laws of each jurisdiction where the character of in which the properties owned, owned or leased or operated by it or the nature operation of its activities makes business requires such qualification necessaryqualification, except for any such failure to be so qualified or in good standing that, individually or in the aggregate, is has not had and would not reasonably likely be expected to result in have a Business Material Adverse Effect. Each Business Subsidiary has all requisite corporate or similar power and authority to carry on the business in which it is now engaged and to own and use the properties now owned and used by it.