Due Formation; Capacity. (a) Borrower is a limited liability company duly organized, validly existing and in good standing under the Laws of the state of its jurisdiction of organization, and has full power and authority to own or lease and operate properties, and to engage in the business it presently conducts and proposes to conduct. Borrower is duly licensed or qualified and in good standing in each jurisdiction where the property owned or leased by it or the nature of the business transacted by it or both makes such licensing or qualification necessary. Borrower will not reorganize in another state.
(b) Guarantor is a limited liability company, duly organized, validly existing and in good standing under the Laws of the state of its jurisdiction of organization, and has full power and authority to own or lease and operate properties, and to engage in the business it presently conducts and proposes to conduct. Guarantor is duly licensed or qualified and in good standing in each jurisdiction where the property owned or leased by it or the nature of the business transacted by it or both makes such licensing or qualification necessary. Guarantor will not reorganize in another state.
Due Formation; Capacity. DVL is a business corporation, Holdings is a limited liability company, and each is duly formed and validly existing under the laws of the State of Delaware, and has full power and authority to own the Collateral Loan Documents and to conduct its affairs as now being conducted and as proposed to be conducted.
Due Formation; Capacity. Borrower is a corporation duly formed and validly existing under the laws of the Commonwealth of Pennsylvania, and has full power and authority to conduct its affairs as now being conducted and as proposed to be conducted.
Due Formation; Capacity. The Borrower is a limited liability company, duly organized, validly existing and in good standing under the Laws of the State of Delaware, and has full power and authority to own and operate the Project, and to conduct its affairs as now being conducted and as proposed to be conducted. The Borrower shall not reorganize in another state during the term of the Loan.
Due Formation; Capacity. Such party is duly organized, validly existing and in good standing under the laws of the State specified in the first paragraph of this Agreement and has full power and authority to own and operate its properties, to conduct its affairs as now being conducted, to execute and deliver this Agreement, the related Note and the related security documents, as applicable (collectively, the “Transaction Documents”) to be or purporting to have been executed and delivered by it, and to perform its obligations hereunder and thereunder.
Due Formation; Capacity. Borrower’s exact legal name is FS7901, LLC and is a limited liability company duly organized, validly existing and in good standing under the Laws of the State of Maryland (being the state of its jurisdiction of organization), and has full power and authority to own or lease and operate properties, and to engage in the business it presently conducts and proposes to conduct. Borrower is duly licensed or qualified and in good standing in each jurisdiction where the property owned or leased by it or the nature of the business transacted by it or both makes such licensing or qualification necessary. Borrower shall not reorganize in another state during the term of the Loan. Borrower’s Federal Tax Identification Number is 00-0000000.
Due Formation; Capacity. (a) Borrower is a limited liability company duly organized, validly existing and in good standing under the Laws of the state of its jurisdiction of organization, and has full power and authority to own or lease and operate properties, and to engage in the business it presently conducts and proposes to conduct. Borrower is duly licensed or qualified and in good standing in each jurisdiction where the property owned or leased by it or the nature of the business transacted by it or both makes such licensing or qualification necessary. Borrower shall not reorganize in another state during the term of the Loan.
(b) Guarantor is a corporation duly organized, validly existing and in good standing under the Laws of the state of its jurisdiction of organization, and has full power and authority to engage in the business it presently conducts and proposes to conduct. Guarantor is duly licensed or qualified and in good standing in each jurisdiction where the property owned or leased by it or the nature of the business transacted by it or both makes such licensing or qualification necessary.
Due Formation; Capacity. (a) Borrower is a limited liability company duly organized, validly existing and in good standing under the Laws of the state of its jurisdiction of organization, and has full power and authority to own or lease and operate properties, and to engage in the business it presently conducts and proposes to conduct. Borrower is duly licensed or qualified and in good standing in each jurisdiction where the property owned or leased by it or the nature of the business transacted by it or both makes such licensing or qualification necessary. Borrower will not reorganize in another state.
(b) Each Guarantor is a corporation, limited liability company or trust, as the case may be, duly organized, validly existing and in good standing under the Laws of the state of its jurisdiction of organization, and has full power and authority to own or lease and operate properties, and to engage in the business it presently conducts and proposes to conduct. Guarantor is duly licensed or qualified and in good standing in each jurisdiction where the property owned or leased by it or the nature of the business transacted by it or both makes such licensing or qualification necessary. Guarantor will not reorganize in another state.
Due Formation; Capacity. Mortgagor is a duly organized and validly existing corporation in good standing under the laws of the State of Texas. Mortgagor has the full power and authority to consummate the transactions contemplated hereby, to execute and deliver the Loan Documents, to conduct business in said state, and to perform its obligations hereunder and under the Loan Documents.
Due Formation; Capacity. Borrower and each of the Partners and Guarantor (other than individuals) are each duly organized, validly existing and in good standing under the laws of the state in which they were formed; and Borrower, the Partners and Guarantor each have full power and authority to own and operate their respective properties, to conduct their respective affairs as now being conducted, to execute and deliver the Loan Documents and the Construction Documents to be or purporting to have been executed and delivered by them, and to perform their respective obligations hereunder and thereunder.
