Common use of Organization; Power; Authorization Clause in Contracts

Organization; Power; Authorization. Borrower is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware. Borrower has all requisite power and authority (corporate and otherwise) to own and use its properties and assets and carry on its business as currently conducted or contemplated. Borrower has the requisite corporate power and authority to execute, deliver and perform the Loan Documents and to consummate the transactions contemplated thereby. The execution, delivery and performance by Borrower of the Loan Documents and the consummation of the transactions contemplated thereby have been duly authorized by all necessary corporate action on the part of Borrower.