Organization, Qualification and Authorization. Each Guarantor is a corporation, validly existing and in good standing under the laws of the State of Minnesota; has the power and authority to own its property and to carry on its business as now being conducted; and is duly qualified and licensed to do business, and is in good standing, in every jurisdiction in which the nature of the business in which it is engaged makes such qualification or licensing necessary.
Appears in 3 contracts
Sources: Loan Agreement, Loan Agreement (Wsi Industries, Inc.), Loan Agreement (Wsi Industries, Inc.)