Organization; Corporate Existence; Capitalization. (a) Each of the Loan Parties (i) is a corporation, limited liability company or limited partnership duly organized, validly existing and in good standing (or the jurisdictional equivalent thereof) under the laws of the jurisdiction of its organization, all as indicated on Schedule 3.02 of the Disclosure Schedules (as such Schedule may be updated from time to time in accordance with the terms and conditions of Section 5.10 or Section 6.12, as applicable), (ii) has all requisite power and authority to own, lease and operate its properties and to carry on its business as now conducted and as proposed hereafter to be conducted, (iii) is qualified to do business as a foreign entity in each jurisdiction in which the failure of such Loan Party to be so qualified could reasonably be expected to have in the aggregate a Material Adverse Effect or could reasonably be expected to otherwise effect in a materially adverse manner the business operations of such Loan Party, and (iv) has all requisite right, power and authority to execute and deliver, and perform all of its obligations under, the Loan Documents to which it is a party and to consummate all of the transactions contemplated by the Loan Documents. True and complete copies of the Organic Documents of Borrower and each other Loan Party and other Obligor, together, in each case, with all amendments and modifications thereto, have been furnished to the Agent.
