Sidebar code

Can anyone give me a basic explanation of how this code works?

<?php if(!function_exists('dynamic_sidebar') || !dynamic_sidebar('right_sidebar') || !dynamic_sidebar('orange')) : ?>
								<?php endif; ?>

I see it saying, “If there’s no dynamic_sidebar function, or right-sidebar, or if no orange sidebar, do nothing.” Is that correct. I’m trying to get my “orange” sidebar to appear on in my “Orange County template”. I successfully registered the sidebar in my theme functions. But now I need clarity on how this sidebar.php works.