Common use of Organization and Good Standing Clause in Contracts

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and has, power, authority and legal right to acquire, own and sell the Receivables.

Organization and Good Standing. The Seller has been is a corporation duly organized and is organized, validly existing as a corporation and in good standing under the laws of the State of California, with and had at all relevant times, and has, power, authority and legal right to acquire, own and sell the corporate power and authority to own its properties Receivables and to conduct perform its business as such properties are currently owned obligations under and such business is presently conductedconsummate the transactions contemplated by the Basic Documents.

Organization and Good Standing. The Seller has been is a corporation duly organized and is organized, validly existing as a corporation and in good standing under the laws of the State of California, with the corporate and has power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and shall have, power, authority and legal right to acquire, own and sell the Receivables.

Organization and Good Standing. The Seller has been is duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned business, and such business is presently conductedhas the corporate power, authority and legal right to acquire and own the Contracts.

Organization and Good Standing. The Seller has shall have been duly organized and is shall be validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are shall be currently owned and such business is presently conducted, and had at all relevant times, and shall now have, corporate power, authority and legal right to acquire, own and sell the Receivables.

Organization and Good Standing. The Seller has shall have been duly organized and is shall be validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are shall be currently owned and such business is presently conducted, and had at all relevant times, and shall now have, corporate power, authority and legal right to acquire, own and sell the Receivables.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are shall be currently owned and such business is presently conductedconducted and had at all relevant times, and shall have, power, authority and legal right to acquire, own and service the Receivables.

Organization and Good Standing. (a) The Seller has been is duly organized and is validly existing as a corporation and in good standing under the laws of the State of California, with the requisite corporate power and authority to own its properties as owned on the Closing Date and to conduct its business as such properties are currently owned conducted by it, on the Closing Date, to obtain the Financing Order and such business is presently conductedto own, sell and transfer Recovery Property and to execute, deliver and perform the terms of this Agreement.

Organization and Good Standing. (a) The Seller has been is duly organized and is validly existing as a corporation and in good standing under the laws of the State of California, with the requisite corporate power and authority to own its properties as owned on the Closing Date and to conduct its business as such properties are currently owned conducted by it on the Closing Date, to obtain the Financing Order and such business is presently conductedto own, sell and transfer Recovery Property and to execute, deliver and perform the terms of this Agreement.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Receivables and the Other Conveyed Property transferred to the Trust.

Organization and Good Standing. The Seller has been duly organized incorporated and is validly existing as a corporation in good standing under the laws of the State of California, with California and has the corporate power and authority to execute and legal right to own its properties and to conduct its motor vehicle retail installment sale contract business as such properties are currently at present owned and such business is presently conductedat present conducted and had at all relevant times, and has, power, authority and legal right to acquire, own and sell the Seller Assets pursuant to the terms of this Agreement.

Organization and Good Standing. The Seller has been is duly ------------------------------- organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and has, the requisite power, authority and legal right to own the Transition Property.

Organization and Good Standing. The Seller has been is duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned business, and such business is presently conducted.has the corporate power, authority and legal right to acquire and own the Contracts;

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Receivables and the other Conveyed Property transferred to the Trust.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Subsequent Receivables and the related Other Conveyed Property transferred to the Trust.

Organization and Good Standing. The Seller has shall have been duly organized and is shall be validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are shall be currently owned and such business is presently conducted, and had at all relevant times, and shall now have, power, authority and legal right to acquire and own the Receivables.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Subsequent Receivables and the Other Conveyed Property transferred to the Trust.

Organization and Good Standing. The Seller has shall have been duly organized and is shall be validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and shall now have, power, authority and legal right to acquire, own and sell the Subsequent Receivables.

Organization and Good Standing. The Seller has been is duly organized and is ------------------------------ validly existing as a corporation limited liability company in good standing under the laws of the State of California, California with the corporate limited liability company power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and has, the power, authority and legal right to acquire and own the Receivables.

Organization and Good Standing. (a) The Seller has been is duly organized and is validly existing as a corporation and in good standing under the laws of the State of California, with the requisite corporate power and authority to own its properties as owned on the Closing Date and to conduct its business as such properties are currently owned conducted by it on the Closing Date, to obtain the Financing Order and such business is presently conductedto own, sell and transfer the Recovery Property and to execute, deliver and perform the terms of this Agreement.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently presently owned and such business is presently conducted, and had at all relevant times, and now has, all necessary power, authority, and legal right to acquire and own the Pool Assets.

Organization and Good Standing. The Seller has been duly organized incorporated and is validly existing as a corporation in good standing solely under the laws of the State of California, in good standing thereunder, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Subsequent Receivables and the related Other Conveyed Property transferred to the Trust.

Organization and Good Standing. The Seller has shall have been duly organized and is shall be validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are shall be currently owned and such business is presently conducted., and had at all relevant times, and shall now have, 5 corporate power, authority and legal right to acquire, own and sell the Receivables. (ii)

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to execute, deliver and perform its obligations under this Agreement and to own its properties and to conduct its business as such properties are shall be currently owned and such business is presently conducted, and had at all relevant times, and shall have, power, authority, and legal right to acquire and own the Receivables.

Organization and Good Standing. The Seller has been is duly organized ------------------------------ and is validly existing as a corporation limited liability company in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and has, the power, authority and legal right to acquire and own the Receivables.

Organization and Good Standing. The Seller (A) has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with (B) has qualified to do business as a foreign corporation and is in good standing in each jurisdiction where the corporate power character of its properties or the nature of its activities makes such qualification necessary, and (C) has full power, authority and legal right to own its properties and property, to conduct carry on its business as such properties are currently owned presently conducted and such business is presently conducted.to enter into and perform its obligations under this Agreement

Organization and Good Standing. The Seller has been is duly organized and is validly existing as a corporation limited liability company in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and has, the power, authority and legal right to acquire and own the Receivables.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with California and is duly qualified and in good standing in each jurisdiction in the corporate power and authority to own its properties and to United States of America in which the conduct of its business as or the ownership of its property requires such properties are currently owned qualification and such business is presently conductedwhere the failure to so qualify would have a material adverse effect on the ability of the Seller to perform its obligations under this Agreement.

Organization and Good Standing. The Seller has shall have been duly organized and is shall be validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted.conduct

Organization and Good Standing. The Seller has been duly organized incorporated and is validly existing as a corporation and in good standing under the laws of the State of California, with the and has full corporate power power, authority and authority legal right to own its properties execute and deliver this Agreement and to conduct its business as such properties are currently owned perform the terms and such business is presently conductedprovisions hereof.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are shall be currently owned and such business is presently conductedconducted and had at all relevant times, and shall have, power, authority and legal right to acquire, own and sell the Transferred Receivables.

Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of California, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and has power, authority and legal right to acquire, own and sell the Receivables.