Common use of Existence and Authorization Clause in Contracts

Existence and Authorization. Borrower is a limited liability company, validly organized and lawfully existing under the laws of Delaware, and qualified to do business and in good standing under the laws of the State of California. Borrower has the requisite power and authority to execute, deliver, and perform the Loan Documents. The execution, delivery, and performance by Borrower of the Loan Documents have been duly authorized by all requisite corporate action by or on behalf of Borrower and will not conflict with, or result in a violation of or a default under, the Organizational Documents of Borrower.