Common use of AUTHORITY OF THE GUARANTOR Clause in Contracts

AUTHORITY OF THE GUARANTOR. Each Guarantor is duly created, validly existing, and in good standing under the laws of the state of its formation, and is duly qualified and in good standing as foreign entity in all other jurisdictions where the failure to qualify would have material adverse effect upon its ability to perform their obligations under the Guaranty. Each Guarantor has the power to enter into the Guaranty and the other Loan Documents to which it is a party, and to perform its obligations thereunder. The making and performance by the Guarantor of the Guaranty and the other Loan Documents to which it is a party, have all been duly authorized by all necessary action, and do not and will not violate any provision of any law, rule, regulation, order, writ, judgment, decree, determination or award presently in effect having applicability to such Guarantor, or governing documents of such Guarantor. The making and performance by each Guarantor of the Guaranty and the other Loan Documents to which it is a party, do not and will not result in a breach of or constitute a default under any material indenture or loan or credit agreement or any other material agreement or instrument to which such Guarantor is a party or by which it may be bound or affected, or result in, or require, the creation or imposition of any mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance of any nature (other than as contemplated by the Related Documents) upon or with respect to any of the properties now owned or hereafter acquired by such Guarantor, and such Guarantor is not in default under or in violation of any such order, writ, judgment, decree, determination, award, indenture, agreement or instrument to the extent any such default or violation could reasonably be expected to have a Material Adverse Effect. The Guaranty constitutes a legal, valid and binding obligation of the Guarantor, enforceable against the Guarantor in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the availability of equitable remedies for the enforcement of certain obligations (other than the payment of principal) contained herein or therein and as may be limited by equitable principles generally.

AUTHORITY OF THE GUARANTOR. Each Guarantor is duly created, validly existing, and in good standing under the laws of the state of its formation, and is duly qualified and in good standing as foreign entity in all other jurisdictions where the failure to be in good standing or to so qualify would have material adverse effect upon its ability to perform their obligations under the Guarantya Material Adverse Effect. Each Guarantor has the power to enter into the Guaranty and the other Loan Documents to which it is a party, and to perform its obligations thereunder. The making and performance by the Guarantor of the Guaranty and the other Loan Documents to which it is a party, have all been duly authorized by all necessary action, and do not and will not materially violate any provision of any law, rule, regulation, order, writ, judgment, decree, determination or award presently in effect having applicability to such Guarantor, or governing documents of such Guarantor. The making and performance by each Guarantor of the Guaranty and the other Loan Documents to which it is a party, do not and will not result in a breach of or constitute a default under any material indenture or loan or credit agreement or any other material agreement or instrument to which such Guarantor is a party or by which it may be bound or affected, or result in, or require, the creation or imposition of any mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance of any nature (other than as contemplated by the Related Documents) upon or with respect to any of the properties now owned or hereafter acquired by such Guarantor, and such Guarantor is not in default under or in violation of any such order, writ, judgment, decree, determination, award, indenture, agreement or instrument to the extent any such default or violation could reasonably be expected to have a Material Adverse Effect. The Guaranty constitutes a legal, valid and binding obligation of the Guarantor, enforceable against the Guarantor in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the availability of equitable remedies for the enforcement of certain obligations (other than the payment of principal) contained herein or therein and as may be limited by equitable principles generally.

AUTHORITY OF THE GUARANTOR. Each Guarantor is duly created, validly existing, and in good standing under the laws of the state of its formation, and is duly qualified and in good standing as foreign entity in all other jurisdictions where the failure to be in good standing or to so qualify would have material adverse effect upon its ability to perform their obligations under the Guarantya Material Adverse Effect, other than as set forth on Schedule 12.18. Each Guarantor has the power to enter into the Guaranty and the other Loan Documents to which it is a party, and to perform its obligations thereunder, other than as set forth on Schedule 12.18. The making and performance by the Guarantor of the Guaranty and the other Loan Documents to which it is a party, have all been duly authorized by all necessary action, and do not and will not materially violate any provision of any law, rule, regulation, order, writ, judgment, decree, determination or award presently in effect having applicability to such Guarantor, or governing documents of such Guarantor. The making and performance by each Guarantor of the Guaranty and the other Loan Documents to which it is a party, do not and will not result in a breach of or constitute a default under any material indenture or loan or credit agreement or any other material agreement or instrument to which such Guarantor is a party or by which it may be bound or affected, or result in, or require, the creation or imposition of any mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance of any nature (other than as contemplated by the Related Loan Documents) upon or with respect to any of the properties now owned or hereafter acquired by such Guarantor, and such Guarantor is not in default under or in violation of any such order, writ, judgment, decree, determination, award, indenture, agreement or instrument to the extent any such default or violation could reasonably be expected to have a Material Adverse Effect. The Guaranty constitutes a legal, valid and binding obligation of the Guarantor, enforceable against the Guarantor in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the availability of equitable remedies for the enforcement of certain obligations (other than the payment of principal) contained herein or therein and as may be limited by equitable principles generally.