Due Organization; Authority. Borrower is duly organized and validly existing and in good standing under the laws of the State and has power adequate to carry on its business as presently conducted, to own the Property, to make and enter into the Loan Documents and to carry out the transactions contemplated therein.
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Samples: Deed of Trust and Security Agreement (Bluerock Residential Growth REIT, Inc.), Grubb & Ellis Healthcare REIT II, Inc., Micro Linear Corp /Ca/
Due Organization; Authority. The Borrower (a) is duly organized and or formed, validly existing and in good standing under the laws of the State jurisdiction of its incorporation and (b) has all requisite corporate and other power adequate and authority to (i) own its assets and carry on its business as presently conductedand (ii) execute, to own the Property, to make deliver and enter into the Loan Documents and to carry out the transactions contemplated thereinperform its obligations under this Agreement.
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Due Organization; Authority. If Borrower is a corporation, partnership or a limited liability company, it is duly organized and organized, validly existing and in good standing under the laws of the State of its organization and is duly qualified to conduct business and is in good standing in the State and has power adequate to carry on its business as presently conducted, to own the Property, to make and enter into the Loan Documents and to carry out the transactions transaction contemplated therein.
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