Common use of Organization, Good Standing and Due Qualification Clause in Contracts

Organization, Good Standing and Due Qualification. Borrower is a corporation duly organized, validly existing, and having an active status under the laws of Borrower’s state or country of organization; 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 as a foreign business entity and in good standing under the laws of each other jurisdiction in which such qualification is required, if any, except where the failure to so qualify would not have a material adverse effect on Borrower’s business or financial condition.

Organization, Good Standing and Due Qualification. Borrower is a corporation duly organized, validly existing, and having an active status in good standing under the laws of Borrower’s state or country the jurisdiction of its organization; has the power and authority to own its assets and to transact the business in which it is now engaged or proposed to be engagedengaged in; and is duly qualified as a foreign business entity and in good standing under the laws of each other jurisdiction in which such qualification is required, if any, except where the failure to so qualify would not have a material adverse effect on Borrower’s business or financial condition.

Organization, Good Standing and Due Qualification. Borrower is a corporation duly organized, validly existing, and having an active status in good standing under the laws of Borrower’s state or country of organizationthe State in which it was organized; 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 as a foreign business entity and in good standing under the laws of each other jurisdiction in which such qualification is required, if any, except where the failure to so qualify would not have a material adverse effect on Borrower’s business or financial condition.