Existence, Due Authorization and Execution Clause Samples

Existence, Due Authorization and Execution. Each of Borrower and each Guarantor is duly organized and existing as a corporation, a limited liability company, or a partnership (as the case may be) and is in good standing and qualified to do business under the laws of Borrower’s or such Guarantor’s (as the case may be) state of organization and that the Loan Documents evidencing the Loans and the Subsidiary Guaranty (as applicable) have been properly executed and delivered by the persons authorized to do so; and

Existence, Due Authorization and Execution. Borrower is duly organized and existing as a corporation and is in good standing under the laws of the state of incorporation or formation and qualified to do business under the laws of the State of Georgia. Guarantor is duly organized and existing as a corporation and is in good standing under the laws of the state of incorporation or formation and qualified to do business under the laws of the State of Georgia;