Common use of Organization and Qualification of Borrower Clause in Contracts

Organization and Qualification of Borrower. Borrower is a corporation duly organized, validly existing and in good standing under the laws of its state of incorporation or formation; has the power to own its properties and to carry on its business as now being conducted; and is duly qualified to do business and is in good standing in every jurisdiction in which the character of the properties owned by it or in which the transaction of its business makes its qualification necessary.

Organization and Qualification of Borrower. Borrower is [a corporation duly organized, validly existing and in good standing standing] [a _________ partnership duly formed and validly existing] [a limited liability company duly organized, validly existing and in good standing] under the laws of its the state of incorporation or formation; has shown on the power to own its properties and to carry on its business as now being conducted; first page hereof, and is duly qualified to do business and is in good standing in every jurisdiction in which all jurisdictions where the character of its properties or the properties owned by it or in which the transaction nature of its business makes its activities make such qualification necessary.

Organization and Qualification of Borrower. The Borrower is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its state of incorporation or formation; has the power to own its properties and to carry on its business as now being conducted; and is duly qualified to do business as a foreign corporation and is in good standing in every under the laws of each jurisdiction in which the character of the properties owned by it or in which the transaction conduct of its business makes or the ownership of its qualification necessaryassets requires such qualification.

Organization and Qualification of Borrower. Borrower is [a corporation duly organized, validly existing and in good standing standing] [a partnership duly formed and validly existing] [a limited liability company duly organized, validly existing and in good standing] under the laws of its the state of incorporation or formation; has shown on the power to own its properties and to carry on its business as now being conducted; first page hereof, and is duly qualified to do business and is in good standing in every jurisdiction in which all jurisdictions where the character of its properties or the properties owned by it or in which the transaction nature of its business makes its activities make such qualification necessary.