Valid Existence and Good Standing. Owner is a limited liability company duly organized and validly existing under the laws of the State of Delaware and duly authorized and registered to transact business in the Commonwealth of Virginia. Owner has the requisite power and authority to own its property and conduct its business as presently conducted.
Valid Existence and Good Standing. Such Seller (unless such Seller is a natural person) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation and has the power and authority to carry on its business and to own or lease and to operate its properties.
Valid Existence and Good Standing. Each is a limited liability company duly organized and validly existing under the laws of the State of Delaware and duly authorized and registered to transact business in the Commonwealth of Virginia. Each has the requisite power and authority to own its property and conduct its business as presently conducted.
Valid Existence and Good Standing. The Developer is a corporation duly organized and validly existing under the laws of the Commonwealth of Virginia and duly authorized and registered to transact business in the Commonwealth of Virginia. The Developer has the requisite power and authority to own its property and conduct its business as presently conducted. The Developer is in good standing in the Commonwealth of Virginia.
Valid Existence and Good Standing. Assignee is a corporation duly formed, validly existing, and in good standing under the laws of the jurisdiction of its formation.
Valid Existence and Good Standing. Portfield and each Related Party, as appropriate, is validly incorporated and existing and in good standing under the laws of the state of their respective incorporation, and is qualified to do business and is in good standing under the laws of each and every state in which the nature of Portfield's or the appropriate Related Party's business requires such qualification.
Valid Existence and Good Standing. Manager is a limited liability company duly organized and validly existing under the laws of the State of Delaware and duly authorized and registered to transact business in the Commonwealth of Virginia. Manager has the requisite power and authority to own its property and conduct its business as presently conducted.
