Common use of Borrower Organization and Name Clause in Contracts

Borrower Organization and Name. The Borrower is a corporation duly organized, existing, and in good standing under the laws of the state of Florida, with full and adequate power to carry on and conduct its business as presently conducted. The Borrower is duly licensed or qualified in all foreign jurisdictions wherein the nature of its activities requires that qualification or licensing, except for any jurisdiction where the failure to so qualify could not reasonably be expected to have a material adverse effect on the Borrower. The exact legal name of the Borrower is as set forth in the introductory clause of this agreement.