Common use of Formation, Existence, Good Standing Clause in Contracts

Formation, Existence, Good Standing. The Borrower is a limited liability company duly organized, validly existing and in good standing under the laws of Delaware and has obtained all licenses and permits and filed all statements of fictitious name and registrations necessary for the lawful operation of its business in Delaware.

Formation, Existence, Good Standing. The Borrower is a limited liability company corporation duly organized, validly existing and in good standing under the laws of Delaware and has obtained all licenses and permits and filed all statements of fictitious name and registrations necessary for the lawful operation of its business in Delaware.