Common use of Due Organization, Existence and Authority Clause in Contracts

Due Organization, Existence and Authority. Borrower and each Borrower-Related Party that is an entity (i) is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and (ii) has full power and authority to own its properties, carry on its business as presently conducted and as proposed to be conducted, and to enter into and perform its obligations under this Agreement and the other Loan Documents to which it is a party.

Due Organization, Existence and Authority. Borrower and each Borrower-Related Party that is an entity (ia) is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and (iib) has full power and authority to own its properties, carry on its business as presently conducted and as proposed to be conducted, and to enter into and perform its obligations Obligations under this Agreement and the other Loan Documents to which it is a party.