Common use of Creation and Existence Clause in Contracts

Creation and Existence. Borrower and Guarantor are corporations duly organized and validly existing in good standing under the laws of their state of incorporation and are duly qualified as a foreign corporation in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. Borrower and Guarantor have all the power and authority to own their properties and assets and to transact the business in which they are engaged.

Creation and Existence. Borrower and Guarantor are corporations or limited liability companies, as the case may be, duly organized and validly existing in good standing under the laws of their state of incorporation or organization, as the case may be, and are duly qualified as a foreign corporation or limited liability company, as the case may be, in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. Borrower and Guarantor have all the power and authority to own their properties and assets and to transact the business in which they are engaged.

Creation and Existence. Borrower and Guarantor are corporations each a corporation duly organized and organized, validly existing and in good standing under the laws of their state of incorporation the jurisdiction in which it was formed and are is duly qualified as a foreign corporation in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. Borrower and Guarantor have each has all the power and authority to own their its properties and assets and to transact the business in which they are it is engaged.