Common use of Good Standing of the Borrower; Authorization Clause in Contracts

Good Standing of the Borrower; Authorization. The Borrower is duly incorporated, organized and existing and in good standing in the State of Delaware and is duly qualified as a foreign corporation and authorized to do business in all other jurisdictions wherein the nature of its business or property makes such qualification necessary, and has the corporate power to own its properties and to carry on its business as now conducted. The execution, delivery and performance of this Agreement, and the Loan Documents have been duly authorized by all necessary corporate proceedings on the part of the Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Blonder Tongue Laboratories Inc), Loan Agreement (Blonder Tongue Laboratories Inc)

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Good Standing of the Borrower; Authorization. The Borrower is duly incorporated, organized and existing and in good standing in the State of Delaware and is duly qualified as a foreign corporation and authorized to do business in all other jurisdictions wherein the nature of its business or property makes such qualification necessary, and has the corporate power to own its properties and to carry on its business as now conducted. As of the date hereof, the Borrower is not doing business in and owns no property in the State of California. The execution, delivery and performance of this Agreement, and the Loan Documents have been duly authorized by all necessary corporate proceedings on the part of the Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Blonder Tongue Laboratories Inc), Loan Agreement (Blonder Tongue Laboratories Inc)

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Good Standing of the Borrower; Authorization. The Borrower is -------------------------------------------- duly incorporated, organized and existing and in good standing in the State of Delaware and is duly qualified as a foreign corporation and authorized to do business in all other jurisdictions wherein the nature of its business or property makes such qualification necessary, and has the corporate power to own its properties and to carry on its business as now conducted. The execution, delivery and performance of this Agreement, and the Loan Documents have been duly authorized by all necessary corporate proceedings on the part of the Borrower.

Appears in 1 contract

Samples: Loan Agreement (Astropower Inc)

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