Duly Organized. In respect of each Borrower, it (1) is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Florida or Alabama, as the case may be; (2) has all requisite power and authority, corporate or otherwise, to conduct its business as now being conducted and to own its properties and assets; and (3) is duly qualified to do business in every jurisdiction wherein the failure to so qualify would have a material adverse effect.
Appears in 3 contracts
Samples: Revolving Credit Loan and Security Agreement (Deer Valley Corp), Revolving Credit Loan and Security Agreement (Deer Valley Corp), Revolving Credit Loan and Security Agreement (Deer Valley Corp)
Duly Organized. In respect of each the Borrower, it (1) is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Florida or Alabama, as the case may be; (2) has all requisite power and authority, corporate or otherwise, to conduct its business as now being conducted and to own its properties and assets; and (3) is duly qualified to do business in every jurisdiction wherein the failure to so qualify would have a material adverse effect.
Appears in 2 contracts
Samples: Revolving Bridge Loan and Security Agreement (Deer Valley Corp), Revolving Bridge Loan and Security Agreement (Deer Valley Corp)
Duly Organized. In respect of each the Borrower, it (1) is a --------------- corporation duly incorporated, validly existing and in good standing under the laws of the State of Florida or Alabama, as the case may be; (2) has all requisite power and authority, corporate or otherwise, to conduct its business as now being conducted and to own its properties and assets; and (3) is duly qualified to do business in every jurisdiction wherein the failure to so qualify would have a material adverse effect.
Appears in 1 contract
Samples: Revolving Credit Loan and Security Agreement (Cytation Corp)
Duly Organized. In respect of each the Borrower, it (1) is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Florida or Alabama, as the case may beFlorida; (2) has all requisite power and authority, corporate or otherwise, to conduct its business as now being conducted and to own its properties and assets; and (3) is duly qualified to do business in every jurisdiction wherein the failure to so qualify would have a material adverse effect.
Appears in 1 contract