Common use of Valid Existence and Power Clause in Contracts

Valid Existence and Power. Borrower is a corporation duly formed, validly existing and in good standing under the laws of the State of Delaware and is duly qualified or licensed to transact business in all places where the failure to be so qualified would have a Material Adverse Effect on it. Borrower has the power to make and perform the Loan Documents executed by it and all such instruments will constitute the legal, valid and binding obligations of Borrower, enforceable in accordance with their respective terms, subject only to bankruptcy and similar laws affecting creditors’ rights generally.

Valid Existence and Power. Borrower is a corporation duly formedorganized, validly existing and in good standing under the laws of the State of Delaware and is duly qualified or licensed to transact business in all places where the failure to be so qualified would have a Material Adverse Effect on it. The Borrower has the power to make and perform the Loan Documents executed by it this Agreement and all such instruments this Agreement will constitute the legal, valid and binding obligations obligation of Borrower, the Borrower enforceable in accordance with their respective its terms, subject only to bankruptcy and similar laws affecting creditors’ ' rights generally.