Common use of Power and Authority of the Depositor Clause in Contracts

Power and Authority of the Depositor. The Depositor has the corporate power and authority to execute and deliver this Agreement and to carry out its terms; the Depositor has full corporate power and authority to sell and assign the property to be sold and assigned to and deposited with the Issuer (or with the Eligible Lender Trustee on behalf of the Issuer) and the Depositor has duly authorized such sale and assignment to the Issuer (or to the Eligible Lender Trustee on behalf of the Issuer) by all necessary corporate action; and the execution, delivery and performance of this Agreement have been duly authorized by the Depositor by all necessary limited liability company action.

Power and Authority of the Depositor. The Depositor has the corporate power and authority to execute and deliver this Agreement and to carry out perform its termsobligations under each of the Basic Documents to which the Depositor is a party; the Depositor has full corporate power and authority to sell and assign the property to be sold and assigned to and deposited with the Issuer (or with the Eligible Lender Trustee on behalf of the Issuer) and Issuing Entity; the Depositor has duly authorized such sale and assignment to the Issuer (or to the Eligible Lender Trustee on behalf of the Issuer) Issuing Entity by all necessary corporate action; and the execution, delivery and performance of this Agreement have each of the Basic Documents to which the Depositor is a party has been duly authorized by the Depositor by all necessary limited liability company corporate action.