Common use of Organization, Power and Authority of Borrower; Loan Documents Clause in Contracts

Organization, Power and Authority of Borrower; Loan Documents. Opportunity OP (a) is a limited partnership organized, existing and in good standing under the laws of the state of Delaware in which it is organized and is duly qualified to do business and in good standing in any other state where the nature of Opportunity OP’s business or property requires it to be qualified to do business, and (b) has the power, authority and legal right to own its property and carry on the business now being conducted by it and to engage in the transactions contemplated by the Loan Documents. The Loan Documents to which Borrower is a party have been duly executed and delivered by such Borrower, and the execution and delivery of, and the carrying out of the transactions contemplated by, such Loan Documents, and the performance and observance of the terms and conditions thereof, have been duly authorized by all necessary organizational action by and on behalf of such Borrower. The Loan Documents to which each Borrower is a party constitute the valid and legally binding obligations of such Borrower and are fully enforceable against such Borrower in accordance with their respective terms, except to the extent that such enforceability may be limited by laws generally affecting the enforcement of creditors’ rights.

Organization, Power and Authority of Borrower; Loan Documents. Opportunity OP (a) As of the Effective Date, Borrower (i) is a limited partnership liability company duly organized, existing and in good standing under the laws of the state of Delaware in which it is organized and is duly qualified to do business and in good standing in any other the state where in which the nature Property is located (if different from the state of Opportunity OP’s business or property requires it to be qualified to do businessits formation), and (bii) has the power, authority and legal right to own its property and carry on the business now being conducted by it and to engage in the transactions contemplated by the Loan Documents. The Loan Documents to which Borrower is a party have been duly executed and delivered by such Borrower, and the execution and delivery of, and the carrying out of the transactions contemplated by, such Loan Documents, and the performance and observance of the terms and conditions thereof, have been duly authorized by all necessary organizational action by and on behalf of such Borrower. The Loan Documents to which each Borrower is a party constitute the valid and legally binding obligations of such Borrower and are fully enforceable against such Borrower in accordance with their respective terms, except to the extent that such enforceability may be limited by laws generally affecting the enforcement of creditors’ rights.

Organization, Power and Authority of Borrower; Loan Documents. Opportunity OP Borrower (a) is a limited partnership liability company duly organized, existing and in good standing under the laws Laws of the state of Delaware in which it is organized and is duly qualified to do business and in good standing in any other the state where in which the nature Land is located (if different from the state of Opportunity OP’s business or property requires it to be qualified to do businessits formation), and (b) has the power, authority and legal right to own its property and carry on the business now being conducted by it and to engage in the transactions contemplated by the Loan Documents. The Loan Documents to which Borrower is a party have been duly executed and delivered by such Borrower, and the execution and delivery of, and the carrying out of the transactions contemplated by, such Loan Documents, and the performance and observance of the terms and conditions thereof, have been duly authorized by all necessary organizational action by and on behalf of such Borrower. The Loan Documents to which each Borrower is a party constitute the valid and legally binding obligations of such Borrower and are fully enforceable against such Borrower in accordance with their respective terms, except to the extent that such enforceability may be limited by laws principles of equity, Laws relating to bankruptcy and insolvency and those generally affecting the enforcement of creditors’ rights.