Common use of Authorization and Contravention Clause in Contracts

Authorization and Contravention. The execution and delivery by Borrower of each Credit Document to which it is a party and the performance by it of its obligations under those Credit Documents (a) are within its trust power, (b) have been duly authorized by all necessary trust action, (c) require no consent of, action by, or filing with, any Governmental Authority (except any action or filing that has been taken or made or consent that has been received, and is completed and in final form and full force and effect, on or before the Closing Date), (d) do not violate any provision of its Organizational Documents, (e) do not violate any provision of any Governmental Requirement applicable to it or result in any breach of, or default under, any material agreement of the Companies, or (f) result in, or requires the imposition of, any Liens on any property of any Company, other than in favor of Administrative Agent for Lenders.

Appears in 2 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)

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Authorization and Contravention. The execution and delivery by each Borrower of each Credit Document to which it is a party and the performance by it of its obligations under those Credit Documents (a) are within its trust or corporate power, (b) have been duly authorized by all necessary trust or corporate action, (c) require no consent of, action by, or filing with, any Governmental Authority (except any action or filing that has been taken or made or consent that has been received, and is completed and in final form and full force and effect, on or before the Closing Date), (d) do not violate any provision of its Organizational Documents, (e) do not violate any provision of any Governmental Requirement applicable to it or result in any breach of, or default under, any material agreement of the Companies, or (f) result in, or requires the imposition of, any Liens on any property of any Company, other than in favor of Administrative Agent for Lenders.

Appears in 2 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)

Authorization and Contravention. The execution and delivery by Borrower each Company of each Credit Document to which it is a party and the performance by it of its obligations under those Credit Documents (ai) are within its trust powercorporate or partnership power (as applicable), (bii) have been duly authorized by all necessary trust actioncorporate or partnership action (as applicable), (ciii) require no consent of, action by, or filing with, any Governmental Authority (except any action or filing that has been taken or made or consent that has been received, and is completed and in final form and full force and effect, on or before the Closing Date), (div) do not violate any provision of its Organizational Documents, (ev) do not violate any provision of any Governmental Requirement applicable to it or result in any breach of, or default under, any material agreement of the Companies, or (fvi) result in, or requires the imposition of, any Liens on any property of any Company, other than in favor of Administrative Agent for Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Ultrak Inc), Credit Agreement (Ultrak Inc)

Authorization and Contravention. The execution and delivery by Borrower each Company of each Credit Document to which it is a party and the performance by it of its obligations under those Credit Documents (ai) are within its trust powercorporate or partnership power (as applicable), (bii) have been duly authorized by all necessary trust actioncorporate or partnership action (as applicable), (ciii) require no consent of, action by, or filing with, any Governmental Authority (except any action or filing that has been taken or made or consent that has been received, and is completed and in final form and full force and effect, on or before the Initial Closing Date), (div) do not violate any provision of its Organizational Documents, (ev) do not violate any provision of any Governmental Requirement Law applicable to it or result in any breach of, or default under, any material agreement of the Companies, or (fvi) result in, or requires the imposition of, any Liens on any property of any Company, other than in favor of Administrative Agent for Lenders.

Appears in 1 contract

Samples: Credit Agreement (Ultrak Inc)

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Authorization and Contravention. The execution and delivery by Borrower each Company of each Credit Document to which it is a party and the performance by it of its obligations under those Credit Documents (ai) are within its trust powercorporate or partnership power (as applicable), (bii) have been duly authorized by all necessary trust actioncorporate or partnership action (as applicable), (ciii) require no consent of, action by, or filing with, any Governmental Authority (except any action or filing that has been taken or made or consent that has been received, and is completed and in final form and full force and effect, on or before the Closing Date), (div) do not violate any provision of its Organizational Documents, (ev) do not violate any provision of any Governmental Requirement Law applicable to it or result in any breach of, or default under, any material agreement of the Companies, or (fvi) result in, or requires the imposition of, any Liens on any property of any Company, other than in favor of Administrative Agent for Lenders.

Appears in 1 contract

Samples: Credit Agreement (Ultrak Inc)

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