Authority to Borrow Hereunder Sample Clauses
The 'Authority to Borrow Hereunder' clause defines the borrower's legal right to request and obtain loans or advances under the terms of the agreement. It typically outlines who within the borrowing entity is authorized to make borrowing requests, such as specific officers or representatives, and may require documentation or resolutions confirming this authority. This clause ensures that only duly authorized individuals can bind the borrower to new debt, thereby protecting both the lender and borrower from unauthorized or fraudulent borrowing.
Authority to Borrow Hereunder. Credit Parties have the power and authority and the legal right to make, deliver and perform the Credit Documents. Credit Parties have taken all necessary action on their part to authorize the execution, delivery and performance of the Credit Documents, and the borrowing contemplated thereby. No consent or authorization of, or filing with, any federal, state, county or municipal government, or any department or agency of any such government, is required of Credit Parties in connection with the execution, delivery, performance, validity or enforceability of the Credit Documents, or the borrowing contemplated hereby.
Authority to Borrow Hereunder. The Borrower has the full power and authority and the legal right to make, deliver and perform each of the Loan Documents to which it is a party, and to incur the Loan Obligations thereunder. The Borrower has taken all necessary action on its part to authorize the execution, delivery and performance of each of the Loan Documents to which it is a party, and the borrowing and other transactions contemplated thereby. No consent or authorization of, or filing with, any federal, state, county or municipal government, or any department or agency of any such government, is required of the Borrower in connection with the execution, delivery, performance, validity or enforceability of each of the Loan Documents to which it is a party, or the borrowing and other transactions contemplated thereby.
Authority to Borrow Hereunder. Borrower has the power and authority and the legal right to make, deliver and perform the Loan Documents. Borrower has taken all necessary action on its part to authorize the execution, delivery and performance of the Loan Documents, and the borrowing contemplated thereby. No consent or authorization of, or filing with, any federal, state, county or municipal government, or any department or agency of any such government, is required of Borrower in connection with the execution, delivery, performance, validity or enforceability of the Loan Documents, or the borrowing contemplated hereby.