Common use of Organizational Procedures and Scope of Business Clause in Contracts

Organizational Procedures and Scope of Business. The Borrower will observe all organizational procedures required by its certificate of formation, Operating Agreement and the laws of its jurisdiction of formation. Without limiting the foregoing, the Borrower will limit the scope of its business to the activities permitted by its Operating Agreement, any prospectus or registration statement, and Applicable Law.

Organizational Procedures and Scope of Business. The Borrower will observe all organizational procedures required by its certificate of formation, Operating Agreement Constituent Documents and the laws of its jurisdiction of formation. Without limiting the foregoing, the Borrower will limit the scope of its business to the activities permitted by its Operating Agreement, any prospectus or registration statement, and Applicable Law.