Common use of Representations of Sponsor Clause in Contracts

Representations of Sponsor. Sponsor represents that it is duly organized, validly existing, and in good standing under the laws of the state of New York. Sponsor has been granted all requisite power and authority to carry on its business and to own and operate its properties and assets. The execution, delivery, and performance of this Agreement have been duly authorized by all necessary corporate action on the part of Sponsor. There is no pending or, to Sponsor’s knowledge, threatened litigation involving Sponsor that would impair this Agreement or Sponsor’s ability to perform its obligations hereunder. There is no indenture, contract, or other encumbrance to which Sponsor is a party or otherwise bound that prohibits or may interfere with the execution, delivery, or performance by Sponsor of this Agreement or any provision hereof.