Common use of Existence, Due Authorization and Execution Clause in Contracts

Existence, Due Authorization and Execution. Each of Borrower and each Guarantor is duly organized and existing as a corporation, a limited liability company, or a partnership (as the case may be) and is in good standing and qualified to do business under the laws of Borrower’s or such Guarantor’s (as the case may be) state of organization and that the Loan Documents evidencing the Loans and the Subsidiary Guaranty (as applicable) have been properly executed and delivered by the persons authorized to do so; and

Existence, Due Authorization and Execution. Each of The Borrower and each Guarantor guarantor is duly organized and existing as a corporation, a limited liability company, or a partnership (as the case may be) corporation and is in good standing and qualified to do business under the laws of Borrower’s or such 's and each Guarantor’s (as the case may be) 's, respectively, state of organization incorporation and the states in which Borrower and such Guarantor owns Loan Inventory and that the Loan Documents evidencing the Loans and the Subsidiary Guaranty (as applicable) have been properly executed and delivered by the persons authorized to do so; and;