Common use of Existence and Power Clause in Contracts

Existence and Power. The Depositor is a limited liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, all power and authority required to carry on its business as now conducted. The Depositor has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction Documents.

Existence and Power. The Depositor is a limited liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, all power and authority required to carry on its business as it is now conducted. The Depositor has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction Documents.

Existence and Power. The Depositor is a Delaware limited liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, all full power and authority required to carry on own its assets and operate its business as now conductedpresently owned or operated, and to execute, deliver and perform its obligations under the Transaction Documents to which it is a party. The Depositor has obtained all necessary licenses and approvals in each jurisdiction all jurisdictions where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction DocumentsDocuments and the Underwriting Agreement.

Existence and Power. The Depositor is a limited liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, all power and authority required to carry on its business as now conducted. The Depositor has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction DocumentsDocuments or affect the enforceability or collectibility of a material portion of the Receivables listed on the Schedule of Receivables or any other part of the Purchased Assets.

Existence and Power. The Depositor is a limited liability company corporation duly formed, validly existing and in good standing under the laws of the State of Delaware and hashas all powers and all governmental licenses, in all material respectsauthorizations, all power consents and authority approvals required to carry on its business as now conducted. The Depositor has obtained all necessary licenses conducted and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction Documentsas contemplated by this Agreement.

Existence and Power. The Depositor is a limited liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, all power and authority required to carry on its business as now conducted. The Depositor has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction DocumentsDocuments or the enforceability or collectibility of the Receivables or any other part of the Purchased Assets.

Existence and Power. The Depositor is a limited liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, all power and authority required to carry on its business as now conducted. The Depositor has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction DocumentsDocuments and the Underwriting Agreement.

Existence and Power. The Depositor is a limited liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, all power and authority required to carry on its business as now conducted. The Depositor has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction DocumentsDocuments or the enforceability or collectibility of the Receivables or any other part of the Transferred Assets.