Common use of Organization and Qualification of Borrower Clause in Contracts

Organization and Qualification of Borrower. Borrowers are each duly organized and validly existing, and in good standing under the laws of the respective States of Delaware and West Virginia and have the power and authority to carry on their businesses, to own their property, to transact the business in which it is now engaged and proposes to be engaged, and is duly qualified to conduct business as a foreign corporation under the laws of each other state in which such qualifications is required, except where the failure to be so qualified could not reasonably be expected to have a Material Adverse Effect. Borrower has all material licenses, permits, consents or approvals from or by, and has made all filings with, each Governmental Authority having jurisdiction over Borrower or Borrower’s business, to the extent required. All documents related to Borrower’s formation and operation (the “Organizational Documents”) are in full force and effect and have not been amended or modified.

Organization and Qualification of Borrower. Borrowers are each Each Borrower is duly organized and validly existing, and in good standing under the laws of the respective States State of Delaware its organization, and West Virginia and have has the power and authority to carry on their its businesses, to own their its property, to transact the business in which it is now engaged and proposes to be engaged, and is duly qualified to conduct business as a foreign corporation under the laws of each other state in which such qualifications is required, except where the failure to be so qualified could not reasonably be expected to have a Material Adverse Effect. Each Borrower has all material licenses, permits, consents or approvals from or by, and has made all filings with, each Governmental Authority having jurisdiction over Borrower or Borrower’s business, to the extent required. All documents related to Borrower’s formation and operation (the “Organizational Documents”) are in full force and effect and have not been amended or modified.