Common use of Incorporation, Good Standing, and Due Qualification Clause in Contracts

Incorporation, Good Standing, and Due Qualification. Each Borrower and each of its Subsidiaries, is a corporation duly incorporated, validly existing, and in good standing under the laws of the jurisdiction of its incorporation; has the corporate power and authority to own its assets and to transact the business in which it is now engaged or proposed to be engaged in; and is duly qualified as a foreign corporation and in good standing under the laws of each other jurisdiction in which such qualification is required, except where failure to so qualify would not have a material adverse effect on the financial condition of the Borrower and its Subsidiaries on a Consolidated basis.

Incorporation, Good Standing, and Due Qualification. Each of the Borrower and each of its Subsidiaries, Subsidiaries is a corporation duly incorporated, validly existing, existing and in good standing under the laws of the jurisdiction of its incorporation; , has the corporate power and authority to own its assets and to transact the business in which it is now engaged or proposed to be engaged in; engaged, and is duly qualified as a foreign corporation and in good standing under the laws of each other jurisdiction in which such qualification is required, except where the failure to so qualify would not have a material adverse effect on the financial condition condition, operations, properties or business of the Borrower and or any of its Subsidiaries on a Consolidated basisSubsidiaries.