Common use of Authority to Take Action Clause in Contracts

Authority to Take Action. Any action required or permitted to be taken, and any documents required or permitted to be executed, under this Loan Agreement, on behalf of the Borrower may be taken or executed by the representative of the Borrower for the purposes of this Section or any person thereunto authorized in writing by him. Any modification of the provisions of the Loan Agreement may be agreed to on behalf of the Borrower by written instrument executed on behalf of the Borrower by the representative so designated or any person authorized in writing by such representative; provided that, in the opinion of such representative or other person, such modification is reasonable in the circumstances and will not substantially increase the obligations of the Borrower under this Loan Agreement. ADB may accept the execution by such representative or other person of any such instrument as conclusive evidence that in the opinion of such representative or other person any modification of the provisions of this Loan Agreement effected by such instrument is reasonable in the circumstances and will not substantially increase the obligations of the Borrower thereunder.

Authority to Take Action. Any action required or permitted to be taken, and any documents required or permitted to be executed, under this the Loan Agreement, on behalf of the Borrower may be taken or executed by the representative of the Borrower for the purposes of this Section or any person thereunto authorized in writing by him. Any modification of the provisions of the Loan Agreement may be agreed to on behalf of the Borrower by written instrument executed on behalf of the Borrower by the representative so designated or any person authorized in writing by such representative; provided that, in the opinion of such representative or other person, such modification is reasonable in the circumstances and will not substantially increase the obligations of the Borrower under this the Loan Agreement. ADB may accept the execution by such representative or other person of any such instrument as conclusive evidence that in the opinion of such representative or other person any modification of the provisions of this the Loan Agreement effected by such instrument is reasonable in the circumstances and will not substantially increase the obligations of the Borrower thereunder.