Existence and Control. Each Borrower shall maintain its existence as a limited liability company in good standing under the laws of the State of Delaware and qualified to do business in the State in which the Parcel it owns is located. Manager shall maintain its existence as a corporation in good standing under the laws of the State of Maryland. At all times prior to the repayment of the Loan, Manager shall be the sole manager of each Borrower.
Appears in 2 contracts
Samples: Syndicated Term Loan Agreement (Strategic Storage Trust VI, Inc.), Syndicated Term Loan Agreement (Strategic Storage Trust VI, Inc.)
Existence and Control. Each Borrower shall maintain its existence as a limited liability company in good standing under the laws of the State of Delaware and qualified to do business in the State in which the Parcel it owns Property is located. ; and Manager shall maintain its existence as a corporation in good standing under the laws of the State of Maryland. At all times prior to the repayment of the Loan, Manager shall be the sole manager of each Borrower.
Appears in 1 contract
Samples: Syndicated Term Loan Agreement (Strategic Storage Trust VI, Inc.)
Existence and Control. Each Borrower shall maintain its existence as a limited liability company in good standing under the laws of the State of Delaware and qualified to do business in the State in which the such Borrower’s Parcel it owns is located. ; and Manager shall maintain its existence as a corporation in good standing under the laws of the State of Maryland. At all times prior to the repayment of the Loan, Manager shall be the sole manager of each Borrower.
Appears in 1 contract
Samples: Syndicated Term Loan Agreement (Strategic Storage Trust IV, Inc.)
