Common use of Due Organization, Qualification, Power, Authority and Due Authorization Clause in Contracts

Due Organization, Qualification, Power, Authority and Due Authorization. It is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (x) it has qualified to do business in each jurisdiction in which it is legally required to do so, (y) it has the power and authority under its certificate of incorporation, bylaws (or, in the case of the REO Subsidiary, its certificate of formation and the LLC Agreement) and applicable law to enter into this Agreement and the Program Documents and to perform all acts contemplated hereby and thereby or in connection herewith and therewith and (z) this Agreement and the Program Documents and the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action and do not require any additional approvals or consents or other action by, or any notice to or filing with, any Person other than any that have heretofore been obtained, given or made.

Due Organization, Qualification, Power, Authority and Due Authorization. It Each of Seller and the Trust is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (x) organization and it has qualified to do business in each jurisdiction in which it is legally required to do so. Each of Seller, (y) it Trust and the Trust acting with respect to the Transaction SUBIs has the power and authority under its certificate of incorporationformation, bylaws operating agreement (or, in the case of the REO Subsidiary, its certificate of formation and the LLC Agreementor equivalent organizational documents) and applicable law to enter into this the Agreement and the Program Documents and to perform all acts contemplated hereby and thereby or in connection herewith and therewith and (z) this therewith; the Agreement and the Program Documents and the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action and do not require any additional approvals or consents or other action by, or any notice to or filing with, any Person other than any that have heretofore been obtained, given or made.