Common use of Authorization of Borrowing Clause in Contracts

Authorization of Borrowing. Borrower has the corporate power and authority to incur the Indebtedness evidenced by the Notes. The execution, delivery and performance of each of the Related Transactions Documents and the consummation of the Related Transactions by Borrower have been duly authorized by all necessary corporate and shareholder action. On the Closing Date, the execution, delivery and performance of the Related Transactions Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Person.

Appears in 2 contracts

Samples: Credit Agreement (Spinnaker Industries Inc), Credit Agreement (Lynch Corp)

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Authorization of Borrowing. Borrower It has the corporate power and authority to incur or guarantee the Indebtedness evidenced by the NotesNotes and this Indenture. The execution, delivery and performance of each by it of the Related Transactions Transaction Documents to which it is a party and the consummation of the Related Transactions by Borrower transactions contemplated thereby have been duly authorized by all necessary limited liability company, partnership, corporate and shareholder or other action. On , as the Closing Date, the execution, delivery and performance of the Related Transactions Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Personcase may be.

Appears in 2 contracts

Samples: Annexes and Schedules (Landmark Infrastructure Partners LP), Indenture (American Tower Corp /Ma/)

Authorization of Borrowing. Each Individual Borrower has the corporate power and authority to incur the Indebtedness evidenced by the NotesNote. The execution, delivery and performance by each of Borrower and Guarantor of each of the Related Transactions Loan Documents to which it is a party and the consummation of the Related Transactions by Borrower transactions contemplated thereby have been duly authorized by all necessary partnership, limited liability company, trustee, corporate and shareholder or other action. On , as the Closing Date, the execution, delivery and performance of the Related Transactions Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Personcase may be.

Appears in 1 contract

Samples: Loan Agreement (Strategic Storage Trust II, Inc.)

Authorization of Borrowing. Borrower has the corporate power and authority to incur the Indebtedness evidenced by the NotesObligations. The execution, delivery and performance of this Agreement and each of the Related Transactions other Loan Documents and the consummation of the Related Transactions transaction by Borrower contemplated therein have been duly authorized by all necessary corporate and shareholder action. On the Closing Date, the execution, delivery and performance of this Agreement and each of the Related Transactions other Loan Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and and, if required, shareholder action of such Personaction.

Appears in 1 contract

Samples: Credit Agreement (Krystal Company)

Authorization of Borrowing. Borrower has the corporate power and authority to incur the Indebtedness evidenced by the NotesNote. The execution, delivery and performance by each Borrower Party of each of the Related Transactions Loan Documents to which it is a party and the consummation of the Related Transactions by Borrower transactions contemplated thereby have been duly authorized by all necessary limited liability company, partnership, trust, corporate and shareholder or other action. On , as the Closing Date, the execution, delivery and performance of the Related Transactions Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Personcase may be.

Appears in 1 contract

Samples: Loan and Security Agreement (Investors Real Estate Trust)

Authorization of Borrowing. Borrower has the corporate power and authority to incur the Indebtedness evidenced by the NotesNote. The execution, delivery and performance by each of Borrower and Guarantor of each of the Related Transactions Loan Documents to which it is a party and the consummation of the Related Transactions by Borrower transactions contemplated thereby have been duly authorized by all necessary partnership, limited liability company, trustee, corporate and shareholder or other action. On , as the Closing Date, the execution, delivery and performance of the Related Transactions Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Personcase may be.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Strategic Storage Trust II, Inc.)

Authorization of Borrowing. Borrower has the corporate power and authority to -------------------------- incur the Indebtedness evidenced by the NotesNote. The execution, delivery and performance by each Borrower Party of each of the Related Transactions Loan Documents to which it is a party and the consummation of the Related Transactions by Borrower transactions contemplated thereby have been duly authorized by all necessary limited liability company, partnership, trust, corporate or other action, as the case may be, and shareholder action. On the Closing Date, the execution, delivery and performance each of the Related Transactions Loan Documents by Borrower and each other Loan Party signatory thereto will have has been duly authorized executed and delivered by all necessary corporate and shareholder action each of such Personthe Borrower Parties.

Appears in 1 contract

Samples: Loan and Security Agreement (Ventas Inc)

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Authorization of Borrowing. Borrower has the corporate power and authority to incur the Indebtedness evidenced by the NotesObligations. The execution, delivery and performance of the Loan Documents by each of the Related Transactions Documents Loan Party and the consummation of the Related Transactions by Borrower signatory thereto have been duly authorized by all necessary corporate and shareholder action. On the Closing Date, the The execution, delivery and performance by each Loan Party of each Loan Document and the consummation of the Related Transactions Documents transactions contemplated by Borrower this Agreement do not and each will not be in contravention of any applicable law, the corporate charter or bylaws of any Loan Party or any agreement or order by which any Loan Party is bound. This Agreement is, and the other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Person.Documents, including the Note, when

Appears in 1 contract

Samples: Loan Agreement (First Mississippi Corp)

Authorization of Borrowing. Borrower has the corporate power and authority to incur the Indebtedness evidenced by the NotesNote. The execution, delivery and performance by each Borrower Party of each of the Related Transactions Loan Documents to which it is a party and the consummation of the Related Transactions by Borrower transactions contemplated thereby have been duly authorized by all necessary partnership, trustee, corporate and shareholder or other action. On , as the Closing Date, the execution, delivery and performance of the Related Transactions Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Personcase may be.

Appears in 1 contract

Samples: Loan and Security Agreement (HRPT Properties Trust)

Authorization of Borrowing. Borrower has the corporate power and authority to incur the Indebtedness evidenced by the NotesNote. The execution, delivery and performance by each Borrower Party and Borrower Sponsor of each of the Related Transactions Loan Documents to which it is a party and the consummation of the Related Transactions by Borrower transactions contemplated thereby have been duly authorized by all necessary partnership, trustee, corporate and shareholder or other action. On , as the Closing Date, the execution, delivery and performance of the Related Transactions Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Personcase may be.

Appears in 1 contract

Samples: Loan Agreement (Equity Inns Inc)

Authorization of Borrowing. Borrower has the corporate power and authority to incur the Indebtedness evidenced by the Notes. The execution, delivery and performance by each Borrower Party of each of the Related Transactions Loan Documents to which it is a party and the consummation of the Related Transactions by Borrower transactions contemplated thereby have been duly authorized by all necessary partnership, trustee, corporate and shareholder or other action. On , as the Closing Date, the execution, delivery and performance of the Related Transactions Documents by Borrower and each other Loan Party signatory thereto will have been duly authorized by all necessary corporate and shareholder action of such Personcase may be.

Appears in 1 contract

Samples: Loan and Security Agreement (Digital Realty Trust, Inc.)

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