Organization, Power, Good Standing, and Business. A. The principal residence of each of Xxxxxxx X. Xxxx and Xxxxx Xxxx Xxxx is in California. The Trust has been duly formed and is validly existing under the laws of the State of California. Borrower has the full power and authority to own and operate its properties, to carry on its business as now conducted, to enter into each Loan Document and to carry out the transactions contemplated hereby and thereby. The Trust has delivered to Lender true and correct copies of portions of its Formation Documents and such portions of the Formation Documents have not been amended or modified except pursuant to agreements delivered to Lender prior to the date hereof.
Appears in 4 contracts
Samples: Loan and Security Agreement (William Harwell Lyon Separate Property Trust), Loan and Security Agreement (William Lyon Homes), Loan and Security Agreement (William Lyon Homes)
