Existence and Power; Investment Company. (a) The Borrower is a corporation duly organized, validly existing and in good standing under the laws of the State of Maryland and has all corporate powers and all authorizations and approvals required to carry on its business as now conducted. The Borrower is duly qualified to do business and is in good standing in each jurisdiction in which the nature of its business, assets, and properties, including without limitation, the performance of the Obligations, requires such qualification, except where failure to be so qualified or in good standing would not be reasonably expected to have a Material Adverse Effect.
Appears in 3 contracts
Samples: Credit Agreement (ClearBridge Energy MLP Total Return Fund Inc.), Credit Agreement (ClearBridge Energy MLP Fund Inc.), Credit Agreement (ClearBridge Energy MLP Opportunity Fund Inc.)
Existence and Power; Investment Company. (a) The Borrower is a corporation duly organized, validly existing and in good standing under the laws of the State of Maryland and has all corporate powers and all authorizations and approvals required to carry on its business as now conducted. The Borrower is duly qualified to do business and is in good standing in each jurisdiction in which the nature of its business, assets, and properties, including without limitation, the performance of the Borrower’s Obligations, requires such qualification, except where failure to be so qualified or in good standing would not be reasonably expected to have a Material Adverse Effect.
Appears in 2 contracts
Samples: Credit Agreement (Western Asset Global High Income Fund Inc.), Credit Agreement (LMP Corporate Loan Fund Inc.)
