Organization and Good Standing; Licensing Sample Clauses

Organization and Good Standing; Licensing. It is a corporation, duly ----------------------------------------- organized, validly existing and in good standing under the laws of the State of Delaware, and it has the corporate power to own its assets and to transact the business in which it is currently engaged. It is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which its type of organization and the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure so to qualify would have a material adverse effect on its business, properties, assets, or condition (financial or other). It was properly licensed in each jurisdiction at the time of purchase or origination of each Contract originated or purchased on an individual basis by it in such jurisdiction to the extent required by the laws of such jurisdiction as applied to the purchase or origination and servicing of such Contract, except where the failure to be so licensed does not materially adversely affect the interests of the Trust Fund or the Certificateholders in and to such Contract.

Organization and Good Standing; Licensing. The Owner is a Delaware limited partnership, duly organized, validly existing and has the power and authority to own its assets and to transact the business in which it is currently engaged.

Organization and Good Standing; Licensing. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Tennessee and has the corporate power to own its assets and to transact the business in which it is currently engaged. The Company is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure so to qualify would have a material adverse effect on the business, properties, assets, or condition (financial or other) of the Company. The Company was properly licensed in each jurisdiction at the time of its purchase of each Contract in such jurisdiction to the extent required by the laws of such jurisdiction as applied to the purchase and servicing of such Contract.

Organization and Good Standing; Licensing. Seller is a company duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation and has all licenses necessary to carry out its business as now being conducted, and is licensed and qualified to transact business in and is in good standing under the laws of its state of jurisdiction;

Organization and Good Standing; Licensing. Vanderbilt is a corporation duly organized, validly existing and in good standing under the laws of the State of Tennessee and has the corporate power to own its assets and to transact the business in which it is currently engaged. Vanderbilt is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure so to qualify would have a material adverse effect on the business, properties, assets, or condition (financial or other) of Vanderbilt. Vanderbilt was properly licensed in each jurisdiction at the time of its purchase or origination, as applicable, of each Contract in such jurisdiction to the extent required by the laws of such jurisdiction as applied to the purchase or origination, as applicable, and servicing of such Contract.

Organization and Good Standing; Licensing. The Owner is a corporation duly organized and validly existing and has the power and authority to own its assets and to transact the business in which it is currently engaged.

Organization and Good Standing; Licensing. Each Owner is a corporation or insurance corporation, as the case may be, duly organized, validly existing and in good standing under the laws of the state of its organization and has the power and authority to own its assets and to transact the business in which it is currently engaged. Each Owner is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification (except where there is an appropriate statutory exemption applicable to an Owner or the failure so to qualify would not have a material adverse effect on the business, properties, assets or condition (financial or otherwise) of such Owner or the Servicer).

Organization and Good Standing; Licensing. It is a limited liability company, duly organized, validly existing and in good standing under the laws of the State of Delaware, and it has the power to own its assets and to transact the business in which it is currently engaged. It is duly qualified to do business as a foreign limited liability company and is in good standing in each jurisdiction in which its type of organization and the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure so to qualify would have a material adverse effect on its business, properties, assets, or condition (financial or other). It was properly licensed in each jurisdiction at the time of purchase or origination of each Contract originated or purchased on an individual basis by it in such jurisdiction to the extent required by the laws of such jurisdiction as applied to the purchase or origination and servicing of such Contract, except where the failure to be so licensed does not materially adversely affect the interests of the Trust Fund or the Certificateholders in and to such Contract.

Organization and Good Standing; Licensing. The Special Servicer is a limited partnership, duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation and has all licenses necessary to carry out its business as now being conducted, and is licensed and qualified to transact business in and is in good standing under the laws of each state in which any Contract serviced by it is located or is otherwise exempt under applicable law from such licensing or qualification or is otherwise not required under applicable law to effect such licensing or qualification and no demand for such licensing or qualification has been made upon the Special Servicer by any such state, and in any event the Special Servicer is in compliance with the laws of any such state to the extent necessary to ensure the enforceability of the servicing of the Contracts in accordance with the terms of this Agreement;