Common use of Due Organization of the Titling Company and NILT LLC Clause in Contracts

Due Organization of the Titling Company and NILT LLC. Each of the Titling Company and NILT LLC has been duly formed and is validly existing in good standing under the laws of the state of its formation, and all filings required at the date hereof under the laws of the state of its formation with respect to the due formation and valid existence of Titling Company or NILT LLC, respectively, as an entity have been made. Each of the Titling Company and NILT LLC has the power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Final Prospectus, as then amended or supplemented, except where the failure to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform their respective obligations under each Basic Document to which the Titling Company or NILT LLC is a party, and to enter into 11 (NALT 2023-A Underwriting Agreement) and perform its obligations under the Basic Documents. Each of the Titling Company and NILT LLC is duly qualified as a foreign entity to transact business and is in good standing in each jurisdiction in which the conduct of its business or the lease or ownership of its property requires such qualification, except where the failure so to qualify or to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform its respective obligations under the Basic Documents.

Due Organization of the Titling Company and NILT LLC. Each of the Titling Company and NILT LLC has been duly formed and is validly existing in good standing under the laws of the state of its formation, and all filings required at the date hereof under the laws of the state of its formation with respect to the due formation and valid existence of Titling Company or NILT LLC, respectively, as an entity have been made. Each of the Titling Company and NILT LLC has the power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Final Prospectus, as then amended or supplemented, except where the failure to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform their respective obligations under each Basic Document to which the Titling Company or NILT LLC is a party, and to enter into 11 (NALT 2023-A Underwriting Agreement) and perform its obligations under the Basic Documents. Each of the Titling Company and NILT LLC is duly qualified as a foreign entity to transact business and is in good standing in each jurisdiction in which the conduct of its business or the lease or ownership of its property requires such qualification, except where the failure so to qualify or to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform its respective obligations under the Basic Documents.. 11 (NALT 2021-A Underwriting Agreement)

Due Organization of the Titling Company and NILT LLC. Each of the Titling Company and NILT LLC has been duly formed and is validly existing in good standing under the laws of the state of its formation, and all filings required at the date hereof under the laws of the state of its formation with respect to the due formation and valid existence of Titling Company or NILT LLC, respectively, as an entity have been made. Each of the Titling Company and NILT LLC has the power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Final Prospectus, as then amended or supplemented, except where the failure to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform their respective obligations under each Basic Document to which the Titling Company or NILT LLC is a party, and to enter into 11 (NALT 2023-A Underwriting Agreement) and perform its obligations under the Basic Documents. Each of the Titling Company and NILT LLC is duly qualified as a foreign entity to transact business and is in good standing in each jurisdiction in which the conduct of its business or the lease or ownership of its property requires such qualification, except where the failure so to qualify or to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform its respective obligations under the Basic Documents.. 11 (NALT 2023-B Underwriting Agreement)

Due Organization of the Titling Company and NILT LLC. Each of the Titling Company and NILT LLC has been duly formed and is validly existing in good standing under the laws of the state of its formation, and all filings required at the date hereof under the laws of the state of its formation with respect to the due formation and valid existence of Titling Company or NILT LLC, respectively, as an entity have been made. Each of the Titling Company and NILT LLC has the power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Final Prospectus, as then amended or supplemented, except where the failure to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform their respective obligations under each Basic Document to which the Titling Company or NILT LLC is a party, and to enter into 11 (NALT 2023-A Underwriting Agreement) and perform its obligations under the Basic Documents. Each of the Titling Company and NILT LLC is duly qualified as a foreign entity to transact business and is in good standing in each jurisdiction in which the conduct of its business or the lease or ownership of its property requires such qualification, except where the failure so to qualify or to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform its respective obligations under the Basic Documents.. 11 (NALT 2022-A Underwriting Agreement)

Due Organization of the Titling Company and NILT LLC. Each of the Titling Company and NILT LLC has been duly formed and is validly existing in good standing under the laws of the state of its formation, and all filings required at the date hereof under the laws of the state of its formation with respect to the due formation and valid existence of Titling Company or NILT LLC, respectively, as an entity have been made. Each of the Titling Company and NILT LLC has the power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Final Prospectus, as then amended or supplemented, except where the failure to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform their respective obligations under each Basic Document to which the Titling Company or NILT LLC is a party, and to enter into 11 (NALT 2023-A Underwriting Agreement) and perform its obligations under the Basic Documents. Each of the Titling Company and NILT LLC is duly qualified as a foreign entity to transact business and is in good standing in each jurisdiction in which the conduct of its business or the lease or ownership of its property requires such qualification, except where the failure so to qualify or to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform its respective obligations under the Basic Documents.

Due Organization of the Titling Company and NILT LLC. Each of the Titling Company and NILT LLC has been duly formed and is validly existing in good standing under the laws of the state of its formation, and all filings required at the date hereof under the laws of the state of its formation with respect to the due formation and valid existence of Titling Company or NILT LLC, respectively, as an entity have been made. Each of the Titling Company and NILT LLC has the power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Final Prospectus, as then amended or supplemented, except where the failure to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform their respective obligations under each Basic Document to which the Titling Company or NILT LLC is a party, and to enter into 11 (NALT 2023-A Underwriting Agreement) and perform its obligations under the Basic Documents. Each of the Titling Company and NILT LLC is duly qualified as a foreign entity to transact business and is in good standing in each jurisdiction in which the conduct of its business or the lease or ownership of its property requires such qualification, except where the failure so to qualify or to be in good standing would not have a material adverse effect on the Titling Company’s or NILT LLC’s ability to perform its respective obligations under the Basic Documents.. 11 (NALT 2024-A Underwriting Agreement)