Common use of Organization, Good Standing and Due Qualification Clause in Contracts

Organization, Good Standing and Due Qualification. The Borrower (i) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization or incorporation (as relevant), (ii) has the power and all licenses necessary to own its assets and to transact the business in which it is engaged and to enter into and perform its obligations pursuant to this Agreement and (iii) is duly qualified and in good standing under the laws of each jurisdiction where the transaction of such business, its ownership of the Loan Assets and the Collateral and the entering into and performance of its obligations pursuant to this Agreement requires such qualification, except, in the cases of clauses (ii) and (iii), as would not reasonably be expected to have a Material Adverse Effect.

Organization, Good Standing and Due Qualification. The Borrower is (i) is duly organizedformed and/or incorporated, validly existing and in good standing under the laws of the State of Delaware (except as such jurisdiction of its organization or incorporation (is changed as relevantpermitted hereunder), (ii) qualified to do business and has the power and all licenses necessary to own its assets and assets, to transact the business in which it is engaged and to enter into and perform its obligations pursuant to this Agreement Agreement, and (iii) is duly qualified and in good standing under the laws of each jurisdiction where the transaction of such business, its the ownership of the Loan Assets Loans and the Collateral Portfolio and the entering into and performance of its obligations pursuant to this Agreement requires such qualification, qualification except, in the cases of clauses (ii) and (iii)) above, as would not reasonably be expected to have a Material Adverse Effect.