Organization and Corporate Powers. Such Subsidiary Borrower (i) is a company duly formed and validly existing and, to the extent such concept is applicable in the relevant jurisdiction, in good standing under the laws of the state or country of its organization (such jurisdiction being hereinafter referred to as the “Home Country”), (ii) has the requisite power and authority to own its property and assets and to carry on its business substantially as now conducted except where the failure to have such requisite authority would not have a Material Adverse Effect on such Subsidiary Borrower and (iii) has the requisite power and authority and legal right to execute and deliver each Loan Document to which it is a party and the performance by it of its obligations thereunder have been duly authorized by proper corporate proceedings on the part of such Subsidiary Borrower.
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Samples: Year Credit Agreement (Trimble Navigation LTD /Ca/), Assignment Agreement (Trimble Navigation LTD /Ca/)
Organization and Corporate Powers. Such Subsidiary Borrower (i) is a company duly formed and validly existing and, to the extent such concept is applicable in the relevant jurisdiction, and in good standing under the laws of the state or country of its organization (such jurisdiction being hereinafter referred to as the “Home Country”"HOME COUNTRY"), ; (ii) has the requisite power and authority to own its property and assets and to carry on its business substantially as now conducted except where the failure to have such requisite authority would not have a Material Adverse Effect material adverse effect on such Subsidiary Borrower Borrower; and (iii) has the requisite power and authority and legal right to execute and deliver each Loan Document to which it is a party and each other Loan Document to which it is a party and the performance by it of its obligations thereunder have been duly authorized by proper corporate proceedings on the part of such Subsidiary Borrowerproceedings.
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Organization and Corporate Powers. Such Subsidiary Borrower (i) is a company duly formed and validly existing and, to the extent such concept is applicable in the relevant jurisdiction, in good standing under the laws of the state or country of its organization (such jurisdiction being hereinafter referred to as the “Home Country”), (ii) has the requisite power and authority to own its property and assets and to carry on its business substantially as now conducted except where the failure to have such requisite authority would not have a Material Adverse Effect on such Subsidiary Borrower and (iii) has the requisite power and authority and legal right to execute and deliver each Loan Document to which it is a party and the performance by it of its obligations thereunder have been duly authorized by proper corporate proceedings on the part of such Subsidiary Borrowerproceedings.
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