Common use of Incorporation, Standing and Power Clause in Contracts

Incorporation, Standing and Power. Seller has been duly incorporated and is validly existing as a banking company under the laws of California and is authorized by the Commissioner to conduct a general banking business. Seller’s deposits are insured by the FDIC in the manner and to the extent provided by law. Seller has all requisite corporate power and authority to own, lease and operate Seller’s properties and assets and to carry on Seller’s business as presently conducted. Neither the scope of the business of Seller nor the location of any of Seller’s properties requires that Seller be licensed to do business in any jurisdiction other than in California where the failure to be so licensed would have a materially adverse effect on the financial condition, results of operation or business of Seller.

Incorporation, Standing and Power. Seller has been duly incorporated and is validly existing as a banking company corporation in good standing under the laws of the State of California and is authorized by the Commissioner DFI to conduct a general banking business. Seller’s deposits are insured by the FDIC in the manner and to the extent provided by law. Seller has all requisite corporate power and authority to own, lease and operate Seller’s its properties and assets and to carry on Seller’s business its businesses as presently conducted. Neither the scope of the business of Seller nor the location of any of Seller’s its properties requires that Seller be licensed to do business in any jurisdiction other than in California where the failure to be so licensed would have a materially adverse effect on the financial condition, results of operation or business of SellerMaterial Adverse Effect.

Incorporation, Standing and Power. Seller has been duly incorporated and is validly existing as a national banking company association under the laws of California the United States and is authorized by the Commissioner OCC to conduct a general banking business. Seller’s deposits are insured by the FDIC in the manner and to the extent provided by law. Seller has all requisite corporate power and authority to own, lease and operate Seller’s properties and assets and to carry on Seller’s business as presently conducted. Neither the scope of the business of Seller nor the location of any of Seller’s properties requires that Seller be licensed to do business in any jurisdiction other than in California where the failure to be so licensed would have a materially adverse effect on the financial condition, results of operation or business of Seller.

Incorporation, Standing and Power. Seller has been duly incorporated and is validly existing as a banking company California state bank under the laws of the state of California and is authorized by the Commissioner DFI to conduct a general banking business. Seller’s 's deposits are insured by the FDIC in the manner and to the extent provided by law. Seller has all requisite corporate power and authority to own, lease and operate Seller’s 's properties and assets and to carry on Seller’s 's business as presently conducted. Neither the scope of the business of Seller nor the location of any of Seller’s 's properties requires that Seller be licensed to do business in any jurisdiction other than in California where the failure to be so licensed would have a materially adverse effect on the financial condition, results of operation or business of Seller.