Common use of Due Incorporation or Formation; Authorization of Agreement Clause in Contracts

Due Incorporation or Formation; Authorization of Agreement. In the event not an individual, such Member is a corporation duly organized or a partnership or limited liability company duly formed, validly existing, and in good standing under the laws of the jurisdiction of its incorporation or formation and has the corporate, partnership, or company power and authority to own its property and carry on its business as owned and carried on at the date hereof and as contemplated hereby. Such Member is duly licensed or qualified to do business and in good standing in each of the jurisdictions in which the failure to be so licensed or qualified would have a Material Adverse Effect on its financial condition or its ability to perform its obligations hereunder. Such Member has the corporate, partnership, or company power and authority to execute and deliver this Operating Agreement and to perform its obligations hereunder and the execution, delivery, and performance of this Operating Agreement has been duly authorized by all necessary corporate, partnership, or company action. This Operating Agreement constitutes the legal, valid, binding, and enforceable obligation of such Member.

Due Incorporation or Formation; Authorization of Agreement. In the event not Each Member that is an individual, such Member entity (an “Entity Member”) is a corporation duly organized or a partnership or limited liability company duly formed, validly existing, existing and in good standing under the laws of the jurisdiction of its incorporation or formation and has the corporate, partnership, partnership or company power and authority to own its property and carry on its business as owned and carried on at the date hereof and as contemplated hereby. Such Each Entity Member is duly licensed or qualified to do business and in good standing in each of the jurisdictions in which the failure to be so licensed or qualified would have a Material Adverse Effect material adverse effect on its financial condition or its ability to perform its obligations hereunder. Such Each Entity Member has the corporate, partnership, partnership or company power and authority to execute and deliver this Operating Agreement and to perform its obligations hereunder hereunder, and the execution, delivery, delivery and performance of this Operating Agreement has been duly authorized by all necessary corporate, partnership, partnership or company action. This Operating Agreement constitutes the legal, valid, binding, valid and enforceable binding obligation of such each Member.

Due Incorporation or Formation; Authorization of Agreement. In the event not an individual, such Such Member is a corporation duly organized or a partnership or limited liability company duly formed, validly existing, and in good standing under the laws of the jurisdiction of its incorporation or formation or a competent adult and has the corporate, partnership, company or company individual power and authority to own its property and carry on its business as owned and carried on at the date hereof and as contemplated hereby. Such Member is duly licensed or qualified to do business and in good standing in each of the jurisdictions in which the failure to be so licensed or qualified would have a Material Adverse Effect material adverse effect on its financial condition or its ability to perform its obligations hereunder. Such Member has the corporate, partnership, company or company individual power and authority to execute and deliver this Operating Agreement and to perform its obligations hereunder and the execution, delivery, delivery and performance of this Operating Agreement has been duly authorized by all necessary corporate, partnership, partnership or company action, to the extent required. This Operating Agreement constitutes the legal, valid, binding, valid and enforceable binding obligation of such Member.

Due Incorporation or Formation; Authorization of Agreement. In the event not Each Member that is an individual, such Member entity (an “Entity Member”) is a corporation duly organized or a partnership or limited liability company duly formed, validly existing, existing and in good standing under the laws of the jurisdiction of its incorporation or formation and has the corporate, partnership, partnership or company power and authority to own its property and carry on its business as owned and carried on at the date hereof and as contemplated hereby. Such Each Entity Member is duly licensed or qualified to do business and in good standing in each of the jurisdictions in which the failure to be so licensed or qualified would have a Material Adverse Effect material adverse effect on its financial condition or its ability to perform its obligations hereunder. Such Each Entity Member has the corporate, partnership, partnership or company power and authority to execute and deliver this Operating Agreement and to perform its obligations hereunder hereunder, and the execution, delivery, delivery and performance of this Operating Agreement has been duly authorized by all necessary corporate, partnership, partnership or company action. This Operating Agreement constitutes the legal, valid, binding, valid and enforceable binding obligation of such each Entity Member.

Due Incorporation or Formation; Authorization of Agreement. In the event not an individual, such Such Member is a corporation duly organized or a partnership or limited liability company duly formed, validly existing, and in good standing under the laws of the jurisdiction of its incorporation or formation and has the corporate, partnership, or limited liability company power and authority to own its property and carry on its business as owned and carried on at the date hereof and as contemplated hereby. Such Member is duly licensed or qualified to do business and in good standing in each of the jurisdictions in which the failure to be so licensed or qualified would have a Material Adverse Effect material adverse effect on its financial condition or its ability to perform its obligations hereunder. Such Member has the corporate, partnership, partnership or limited liability company power and authority to execute and deliver this Operating Agreement and to perform its obligations hereunder and the execution, delivery, and performance of this Operating Agreement has been duly authorized by all necessary corporate, partnership, or limited liability company action. This Operating Agreement constitutes the legal, valid, binding, and enforceable binding obligation of such Member.