Common use of Organization; Corporate Powers Clause in Contracts

Organization; Corporate Powers. The Borrower (i) is a duly organized and validly existing limited liability company, in good standing under the laws of the State of Delaware, (ii) has the limited liability company power and authority to own its property and assets and to transact the business in which it is engaged and presently proposes to engage, and (iii) is duly qualified and is authorized to do business in all jurisdictions where it is required to be so qualified or authorized.

Organization; Corporate Powers. The Borrower (i) is a corporation duly organized and organized, validly existing limited liability company, and in good standing under the laws of the State of Delaware, (ii) has the limited liability company power is duly qualified to conduct business as a foreign corporation and authority to own its property and assets and to transact the business is in good standing in each other jurisdiction in which such qualification and good standing are reasonably necessary in order for it is engaged to conduct its business and presently proposes to engage, own or lease its Properties as conducted and owned and (iii) is duly qualified has all corporate power and is authorized to do business in all jurisdictions where it is material Government Approvals required to own or lease its Properties and to carry on its business as now conducted and as proposed to be so qualified or authorizedconducted.