Common use of Purchaser Duly Formed and Authorized Clause in Contracts

Purchaser Duly Formed and Authorized. The Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, and the Purchaser has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement by it, and has the power and authority to execute, deliver and perform this Agreement and all the transactions contemplated hereby, including, but not limited to, the power and authority to purchase and acquire the Mortgage Loans in accordance with this Agreement;