Common use of Due Qualification and Good Standing Clause in Contracts

Due Qualification and Good Standing. The Collateral Manager is in good standing in the State of Delaware. The Collateral Manager is duly qualified to do business and, to the extent applicable, is in good standing in each other jurisdiction in which the nature of its business, assets and properties, including the performance of its obligations under this Agreement, the other Facility Documents to which it is a party and its Constituent Documents to which it is a party, requires such qualification, except where the failure to be so qualified or in good standing could not reasonably be expected to have a Material Adverse Effect.

Due Qualification and Good Standing. The Collateral Manager is in good standing in the State of Delaware. The Collateral Manager Equityholder is in good standing in the State of Maryland. It is duly qualified to do business and, to the extent applicable, is in good standing in each other jurisdiction in which the nature of its business, assets and properties, including the performance of its obligations under this Agreement, the other Facility Documents to which it is a party and its Constituent Documents to which it is a partyDocuments, requires such qualification, except where the failure to be so qualified or in good standing could would not reasonably be expected to have a Material Adverse Effect.