Common use of Existence and Power Clause in Contracts

Existence and Power. The Servicer is a corporation validly existing and in good standing under the laws of Delaware and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Servicer to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assets.

Existence and Power. The Servicer is a corporation corporation, duly organized, validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, has all power and authority required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction all jurisdictions where the failure to do so would materially and adversely affect the ability business, properties, financial condition or results of operations of the Servicer to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred AssetsServicer, taken as a whole.

Existence and Power. The Servicer (i) is a corporation duly organized, validly existing and in good standing under the laws of Delaware and hasthe State of Delaware, in all material respects, all (ii) has the corporate power and authority to carry on its transact the business as in which it is now conducted. The Servicer has obtained all necessary licenses engaged and approvals proposes to engage and (iii) is duly qualified and in good standing in each jurisdiction where the ownership, leasing or operation of property or the conduct of its business requires such qualification, except where the failure to do be so qualified and in good standing would materially and adversely affect the ability of the Servicer not reasonably be expected to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assetshave a Material Adverse Effect.

Existence and Power. The Servicer is a corporation duly formed, validly existing and in good standing under the laws of Delaware the State of Delaware, and has, in has all material respects, all company power and authority all governmental licenses, authorizations, consents and approvals required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction where the in which its business is conducted, except if failure to do so have such licenses, authorizations, consents or approvals would materially and adversely affect the ability of the Servicer not reasonably be expected to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assetshave a Material Adverse Effect.

Existence and Power. The Servicer is a corporation limited liability company duly formed, validly existing and in good standing under the laws of Delaware the State of Delaware, and has, in has all material respects, all company power and authority all governmental licenses, authorizations, consents and approvals required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction in which its business is conducted, except where the failure to do so have such licenses, authorizations, consents or approvals would materially and adversely affect the ability of the Servicer not be reasonably expected to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assetshave a Material Adverse Effect.

Existence and Power. The Servicer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, has all power and authority required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction all jurisdictions where the failure to do so would materially and adversely affect the ability business, properties, financial condition or results of operations of the Servicer to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred AssetsServicer, taken as a whole.

Existence and Power. The Servicer is a corporation duly organized, validly existing and in good standing under the laws of Delaware the State of Delaware. The Servicer is duly qualified to do business and hasis in good standing as a foreign corporation, in and has and holds all material respects, all corporate power and authority all governmental licenses, authorizations, consents and approvals required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction in which its business is conducted except where the failure to do so would materially and adversely affect the ability of the Servicer qualify or so hold could not reasonably be expected to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assetshave a Material Adverse Effect.

Existence and Power. The Servicer is a Delaware corporation validly existing and in good standing under the laws of Delaware and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Servicer to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assets.

Existence and Power. The Servicer is a corporation validly existing and in good standing under the laws of Delaware and has, in all material respects, all power and authority to Sale & Servicing Agreement (VALET 2011-1) carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Servicer to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assets.

Existence and Power. The Servicer is a Delaware corporation validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Servicer to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assets.

Existence and Power. The Servicer is a corporation duly organized, validly existing and in good standing under the laws of Delaware the State of Delaware. The Servicer is duly qualified to do business and has, is in good standing as a foreign limited liability company and has and holds all material respects, all limited liability company power and authority all governmental licenses, authorizations, consents and approvals required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction in which its business is conducted except where the failure to do so would materially and adversely affect the ability of the Servicer qualify or so hold could not reasonably be expected to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assetshave a Material Adverse Effect.

Existence and Power. The Servicer is a corporation duly organized, validly existing and in good standing under the laws of Delaware the State of Delaware. The Servicer is duly qualified to do business and hasis in good standing as a foreign limited liability company, in and has and holds all material respects, all limited liability company power and authority all governmental licenses, authorizations, consents and approvals required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction in which its business is conducted except where the failure to do so would materially and adversely affect the ability of the Servicer qualify or so hold could not reasonably be expected to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assetshave a Material Adverse Effect.

Existence and Power. The Servicer is a corporation validly existing and in good standing under the laws of Delaware and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect Sale & Servicing Agreement (VALET 2007-1) 20 the ability of the Servicer to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assets.

Existence and Power. The Servicer is a corporation duly organized, validly existing and in good standing under the laws of Delaware the State of Delaware. The Servicer is duly qualified to do business and has, is in good standing as a foreign corporation and has and holds all material respects, all corporate power and authority all governmental licenses, authorizations, consents and approvals required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction in which its business is conducted except where the failure to do so would materially and adversely affect the ability of the Servicer qualify or so hold could not reasonably be expected to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assetshave a Material Adverse Effect.

Existence and Power. The Servicer is a corporation duly organized, validly existing and in good standing under the laws of Delaware Delaware, and has, in has all material respects, all company power and authority all governmental licenses, authorizations, consents and approvals required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in each jurisdiction in which its business is conducted, except where the failure to do so would materially and adversely affect the ability of the Servicer not reasonably be expected to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assetsresult in a Material Adverse Effect.