Common use of Due Incorporation or Formation; Authorization of Agreement Clause in Contracts

Due Incorporation or Formation; Authorization of Agreement. If the Member is a corporation, partnership or limited liability company, such Member is a corporation duly organized or a partnership or limited liability company duly formed, validly existing, and in good standing under the laws of the jurisdiction of its incorporation or formation and has the corporate, partnership or limited liability company power and authority to own its property and carry on its business as owned and carried on at the date hereof and as contemplated hereby. Such Member is duly licensed or qualified to do business and in good standing in each of the jurisdictions in which the failure to be so licensed or qualified would have a material adverse effect on its financial condition or its ability to perform its obligations hereunder. Such Member has the corporate, partnership or limited liability company power and authority to execute and deliver this Agreement and to perform its obligations hereunder and the execution, delivery, and performance of this Agreement has been duly authorized by all necessary corporate, partnership or limited liability company action. This Agreement constitutes the legal, valid, and binding obligation of such Member.

Due Incorporation or Formation; Authorization of Agreement. If the Member is a corporation, partnership or limited liability company, such Member is a corporation duly organized or a partnership or a limited liability company or a trust, it is duly organized or duly formed, validly existing, and in good standing under the laws of the jurisdiction of its incorporation or formation and has the corporatecorporate or partnership, partnership company or limited liability company trust power and authority to own its property and carry on its business as owned and carried on at the date hereof and as contemplated hereby. Such Member is duly licensed or qualified to do business and in good standing in each of the jurisdictions in which the failure to be so licensed or qualified would have a material adverse effect on its financial condition or its ability to perform its obligations hereunder. Such Member has the individual, corporate, partnership partnership, company or limited liability company trust power and authority to execute and deliver this Agreement and to perform its obligations hereunder and and, if such Member is a corporation or partnership or limited liability company or trust, the execution, delivery, and performance of this Agreement has been duly authorized by all necessary corporate, corporate or partnership or limited liability company or trust action. This Agreement constitutes the legal, valid, and binding obligation of such Member.

Due Incorporation or Formation; Authorization of Agreement. If the such Member is a corporation, partnership or a limited liability companycompany or a partnership, such Member it is a corporation duly organized or a partnership or limited liability company duly formed, validly existing, existing and in good standing under the laws of the jurisdiction of its incorporation incorporation, organization or formation and has the corporate, partnership or limited liability company or partnership power and authority to own its property and carry on its business as owned and carried on at the date hereof and as contemplated hereby. Such Member is duly licensed or qualified to do business and in good standing in each of the jurisdictions in which the failure to be so licensed or qualified would have a material adverse effect on its financial condition or its ability to perform its obligations hereunder. Such Member has the individual, corporate, partnership or limited liability company or partnership power and authority to execute and deliver this Agreement and to perform its obligations hereunder and and, if such partner is a corporation, limited liability company or partnership, the execution, delivery, and performance of this Agreement has been duly authorized by all necessary corporate, partnership or limited liability company or partnership action. This Agreement constitutes the legal, valid, and binding obligation of such Member.