Common use of Organization, Standing, Qualification Clause in Contracts

Organization, Standing, Qualification. Borrower (a) is a corporation duly organized, validly existing, and in good standing under the laws of the State of Delaware and as a foreign corporation under the laws of each jurisdiction in which the character or location of the properties owned by it or the business transacted by it requires licensing and qualification; and (b) has all requisite power, corporate or otherwise, to conduct its business and to execute, deliver, and perform its obligations under the Loan Documents.