Common use of Authority and Execution Clause in Contracts

Authority and Execution. Each of the Parent Borrower and each of its Subsidiaries has full legal power and authority to enter into, execute, deliver and perform the terms of the Loan Documents to which it is a party all of which have been duly authorized by all proper and necessary corporate, partnership or other applicable action and are in full compliance with its Organizational Documents. The Parent Borrower and each of its Subsidiaries has duly executed and delivered the Loan Documents to which it is a party.

Authority and Execution. Each of the Parent Borrower and each of its Subsidiaries has full legal power and authority to enter into, execute, deliver and perform the terms of the Loan Documents to which it is a party all of which have been duly authorized by all proper and necessary corporate, partnership or other applicable action and are in full compliance with its Organizational Documents, except where the failure to be in such full compliance could not reasonably be expected to have a Material Adverse Effect. The Parent Borrower and each of its Subsidiaries has duly executed and delivered the Loan Documents to which it is a party.