Common use of Corporate Existence; Conduct of Business Clause in Contracts

Corporate Existence; Conduct of Business. The Borrower and its Subsidiaries (a) are corporations duly incorporated, validly existing and in good standing under the Laws of their respective jurisdictions of incorporation, (b) are duly qualified and in good standing as foreign corporations in each jurisdiction in which its ownership or lease of property or the conduct of its business requires such qualification, except where failure to be so qualified will not have a Material Adverse Effect, and (c) possess all licenses, registrations and authorizations from and with any Governmental Authority, self-regulatory organization or securities exchange necessary or material to the conduct of its business as presently conducted. Nuveen Investments is (a) a broker-dealer duly registered under the Exchange Act, (b) a member in good standing of the NASD, (c) not in arrears in regard to any assessment of the SIPC, and (d) has received no notice from the SEC, MSRB, NASD or any other Governmental Authority, self-regulatory organization or securities exchange of any alleged rule violation or other circumstance which could reasonably be expected to have a Material Adverse Effect.

Corporate Existence; Conduct of Business. The Each of the Borrower and its Subsidiaries each Subsidiary (a) are corporations is duly incorporatedformed, validly existing and in good standing under the Laws laws of their respective jurisdictions its jurisdiction of incorporationformation, (b) are is duly qualified and in good standing as foreign corporations in each jurisdiction in which its ownership or lease of property or the conduct of its business requires such qualification, except where failure to be so qualified will not have a Material Adverse Effect, and (c) possess possesses all licenses, registrations and authorizations from and with any Governmental Authority, self-regulatory organization or securities exchange necessary or material to the conduct of its business as presently conducted. Nuveen Investments is (a) a broker-dealer duly registered under the Exchange Act, (b) a member in good standing of the NASD, (c) not in arrears in regard to any assessment of the SIPC, SIPC and (dc) has received no notice from the SEC, MSRB, NASD or any other Governmental Authority, self-regulatory organization or securities exchange of any alleged rule violation or other circumstance which could reasonably be expected to have a Material Adverse Effect.