(i) PMC is a corporation duly organized, validly existing and in good standing under the laws of Delaware .   POP is a limited partnership duly organized, validly existing and in good standing under the laws of Delaware.  (ii) Each Seller (x ) has all requisite corporate or other power, and has all governmental licenses, authorizations, consents and approvals necessary to own its assets and carry on its business as now being or as proposed to be conducted; (y ) is qualified to do business and is in good standing in all other jurisdictions in which the nature of the business conducted by it makes such qualification necessary; and (z ) has full power and authority to execute, deliver and perform its obligations under the Facility Documents. (ii) Guarantor is a real estate investment trust duly organized, validly existing and in good standing under the laws of Maryland .  Guarantor (x ) has all requisite corporate or other power, and has all governmental licenses, authorizations, consents and approvals necessary to own its assets and carry on its business as now being or as proposed to be conducted; (y ) is qualified to do business and is in good standing in all other jurisdictions in which the nature of the business conducted by it makes such qualification necessary; and (z ) has full power and authority to execute, deliver and perform its obligations under the Facility Documents.