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

Valid Organization, Good Standing and Qualification. Borrower is a corporation duly formed, validly subsisting and in good standing under the laws of the State of Delaware, has full power and authority to execute, deliver and comply with the Loan Documents, and to carry on its business as it is now being conducted, and is duly licensed or qualified as a foreign corporation in good standing under the laws of each jurisdiction in which the character or location of the properties owned by it or the business transacted by it requires such licensing or qualification, except where the failure to be so licensed or qualified could not reasonably be expected to result in a Material Adverse Effect.

Valid Organization, Good Standing and Qualification. Borrower is a corporation duly formedincorporated, validly subsisting existing and in good standing under the laws of the State of Delaware, has full power and authority to execute, deliver and comply with the Loan Documents, and to carry on its business as it is now being conducted, conducted and is duly licensed or qualified as a foreign corporation in good standing under the laws of each other jurisdiction in which the character or location of the properties owned by it or the business transacted by it requires such licensing or qualification, except where qualification and the failure to be so licensed qualified would have a material adverse effect on the Collateral, business operations or qualified could not reasonably be expected to result in a Material Adverse Effectfinancial condition of Borrower.