Formation, Good Standing and Due Qualification. The Borrower is a limited liability company duly formed, validly existing and in good standing under the laws of the State of Delaware and has the power and all licenses necessary to own its assets and to transact the business in which it is engaged and is duly qualified and in good standing under the laws of each jurisdiction where the transaction of such business or its ownership of the Loan Assets and the Collateral Portfolio requires such qualification; except in each case, to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.
Formation, Good Standing and Due Qualification. Borrower (a) is a limited liability company duly organized and validly existing under the laws of the jurisdiction of its formation; (b) has all requisite power and authority necessary to own its properties and assets and to carry on the business in which it is now engaged or proposed to be engaged; and (c) is duly qualified and in good standing as a foreign corporation, foreign limited liability or foreign partnership, as applicable, under the laws of each other jurisdiction in which such qualification is required, except where the failure to so qualify could not reasonably be expected to result in a Material Adverse Effect.
Formation, Good Standing and Due Qualification. Each Obligor is duly formed, validly existing and in good standing under the laws of the jurisdiction of its formation, has the power and authority to own its assets and to transact the business in which it is now engaged or proposed to be engaged, and is duly qualified and in good standing under the laws of each other jurisdiction in which such qualification is required or where such qualification is necessary.
Formation, Good Standing and Due Qualification. The Borrower is duly formed, validly existing and in good standing under the laws of the jurisdiction of its formation, has the power and authority to own its assets and to transact the business in which it is now engaged or proposed to be engaged, subject to the prior approval of the Bankruptcy Court as required under the Bankruptcy Code, and is duly qualified and in good standing under the laws of each other jurisdiction in which the failure to qualify would cause, or result in, a Material Adverse Change, or where such qualification is necessary to permit the Borrower to enforce any Mortgage Loan.
Formation, Good Standing and Due Qualification. 30 Section 5.02 Power and Authority; No Conflicts.............................30 Section 5.03 Legally Enforceable Agreements................................31 Section 5.04 Litigation....................................................31 Section 5.05 Financial Statements..........................................31 Section 5.06 Ownership and Liens...........................................31 Section 5.07 Taxes.........................................................31 Section 5.08 ERISA.........................................................31 Section 5.09 Subsidiaries..................................................32 Section 5.10 Operation of Business; Prior or Existing Restrictions, Etc....32 Section 5.11 No Default on Outstanding Judgments or Orders.................32 Section 5.12 No Defaults on Other Agreements...............................32 Section 5.13 Labor Disputes and Acts of God................................32 Section 5.14 Partnerships..................................................33 Section 5.15 Environmental Protection......................................33 Section 5.16 Management of Borrower........................................33 Section 5.17 Compliance with Laws..........................................33 Section 5.18 Solvency......................................................33 ARTICLE VI
Formation, Good Standing and Due Qualification. ..55 Section 6.02.
Formation, Good Standing and Due Qualification. 49 Section 6.02. Power and Authority; No Conflicts................49 Section 6.03.
Formation, Good Standing and Due Qualification. The Borrower is a general partnership created and existing under the laws of the State of New Jersey. The Borrower has the power and authority to own its assets and to transact the business in which it is now engaged or proposed to be engaged in, and is duly qualified and in good standing under the laws of each other jurisdiction in which such qualification is required, except where the failure to so qualify would not materially and adversely affect the business or financial condition of the Borrower.
