Common use of Status and Authority of Manager Clause in Contracts

Status and Authority of Manager. Manager is a corporation duly organized, validly existing and in corporate good standing under the laws of its state of incorporation, and has all requisite power and authority under the laws of such state and its respective charter documents to enter into and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. Manager has duly qualified to transact business and is in good standing in the state in which each Property is located.

Status and Authority of Manager. Manager is a corporation duly organized, validly existing and in corporate good standing under the laws of its state of incorporation, and has all requisite power and authority under the laws of such state and its respective charter documents to enter into and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. Manager has duly qualified to transact business and is in good standing in the state in which each the Property is located.