Creation and Existence. Each of Borrower and its Subsidiaries is ---------------------- a Person duly organized, validly existing and in good standing under the laws of the jurisdiction in which it was formed and is duly qualified in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. Each of Borrower and its Subsidiaries has all power and authority to own its properties and assets and to transact the business in which it is engaged.
Appears in 1 contract
Sources: Credit Agreement (Wiser Oil Co)
Creation and Existence. Each of Borrower and its Subsidiaries is a corporation or ---------------------- a Person limited liability company duly organized, validly existing and in good standing under the laws of the jurisdiction in which it was formed and is duly qualified in all jurisdictions wherein failure to qualify may result in a Material Adverse Effect. Each of Borrower and its Subsidiaries has all power and authority to own its properties and assets and to transact the business in which it is engaged.
Appears in 1 contract
Sources: Credit Agreement (3tec Energy Corp)