Common use of Authorization of Borrowing; No Conflict as to Law or Other Agreements Clause in Contracts

Authorization of Borrowing; No Conflict as to Law or Other Agreements. The execution, delivery and performance by M-TRON of the Loan Documents and the borrowings from time to time hereunder have been duly authorized by all necessary corporate actions of M-TRON and do not and will not (a) require any material consent or approval, or authorization, by any governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, other than those obtained and in full force and effect, (b) violate, in any material respect, any provision of any law, rule or regulation or of any order, writ, injunction or decree presently in effect having applicability to M-TRON, or violate any provision of the Certificate of Incorporation or By-laws of M-TRON, (c) result in a breach of or constitute a default beyond any applicable cure period under any indenture or loan or credit agreement or any other material agreement, lease or instrument to which M-TRON is a party or by which it or its properties may be bound or affected, or (d) 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 to or with any other creditor of M-TRON, in the aggregate exceeding $100,000, upon or with respect to any of the properties now owned or hereafter acquired by M-TRON.

Authorization of Borrowing; No Conflict as to Law or Other Agreements. The execution, delivery and performance by M-TRON the BORROWER of the Loan Documents LOAN DOCUMENTS and the borrowings from time to time hereunder have been duly authorized by all necessary corporate actions of M-TRON the BORROWER and do not and will not (a) require any material consent or approval, or authorization, by any governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, other than those obtained and in full force and effect, (b) violate, in any material respect, any provision of any law, rule or regulation or of any order, writ, injunction or decree presently in effect having applicability to M-TRONthe BORROWER, or violate any provision of the Certificate Articles of Incorporation Organization or By-laws operating agreement of M-TRONthe BORROWER, (c) result in a breach of or constitute a default beyond any applicable cure period under any indenture or loan or credit agreement or any other material agreement, lease or instrument to which M-TRON the BORROWER is a party or by which it or its properties may be bound or affected, or (d) 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 to or with any other creditor of M-TRONthe BORROWER, in the aggregate exceeding $100,000100,000.00, upon or with respect to any of the properties now owned or hereafter acquired by M-TRONthe BORROWER.

Authorization of Borrowing; No Conflict as to Law or Other Agreements. The execution, delivery and performance by M-TRON the Borrower of the Loan Documents and the borrowings from time to time hereunder have been duly authorized by all necessary corporate actions of M-TRON the Borrower and do not and will not (a) require any material consent or approval, or authorization, by any governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, other than those obtained and in full force and effect, (b) violate, in any material respect, any provision of any law, rule or regulation or of any order, writ, injunction or decree presently in effect having applicability to M-TRONthe Borrower, or violate any provision of the Certificate Articles of Incorporation Organization or By-laws operating agreement of M-TRONthe Borrower, (c) result in a breach of or constitute a default beyond any applicable cure period under any indenture or loan or credit agreement or any other material agreement, lease or instrument to which M-TRON the Borrower is a party or by which it or its properties may be bound or affected, or (d) 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 to or with any other creditor of M-TRONthe Borrower, in the aggregate exceeding $100,00050,000 annually, upon or with respect to any of the properties now owned or hereafter acquired by M-TRONthe Borrower.