Common use of AUTHORIZATION, VALIDITY AND BINDING EFFECT Clause in Contracts

AUTHORIZATION, VALIDITY AND BINDING EFFECT. This Agreement and each contract, instrument and other document required hereby or at any time hereafter delivered to Lender in connection herewith (collectively, including this Agreement, the Security Agreement, the Mortgage, the “Loan Documents”) and the performance of the transactions contemplated hereby, including the grant by the Borrower of the security interests in the Collateral as contemplated hereby are within the Borrower’s powers and have been duly authorized by the board of directors of the Borrower. Subject to any restrictions arising on account of the Borrower’s status a “debtor” under the Bankruptcy Code, any required approvals of the Bankruptcy Court and receipt of other consents which the parties hereto contemplate will be obtained prior to the Effective Date, (i) the Borrower has all requisite power and authority to enter into, consummate and perform this Agreement and carry out all of the terms and provisions of this Agreement and (ii) upon their execution and delivery in accordance with the provisions hereof, the Loan Documents will constitute legal, valid and binding agreements and Obligations of the Borrower or the party which executes the same, enforceable in accordance with their respective terms.

AUTHORIZATION, VALIDITY AND BINDING EFFECT. This Agreement and each contract, instrument and other document required hereby or at any time hereafter delivered to Lender in connection herewith (collectively, including this Agreement, the Security Agreement, the Mortgage, the “Loan Documents”) and the performance of the transactions contemplated hereby, including the grant by the Borrower of the security interests in the Collateral as contemplated hereby are within the Borrower’s powers and have been duly authorized by the board of directors of the Borrower. Subject to any restrictions arising on account of the Borrower’s status a “debtor” under the Bankruptcy Code, any required approvals of the Bankruptcy Court and receipt of other consents which the parties hereto contemplate will be obtained prior to the Effective Date, (i) the Borrower has all requisite power and authority to enter into, consummate and perform this Agreement and carry out all of the terms and provisions of this Agreement and (ii) upon their execution and delivery in accordance with the provisions hereof, the Loan Documents will constitute legal, valid and binding agreements and Obligations of the Borrower or the party which executes the same, enforceable in accordance with their respective terms. 1 NTD: District to confirm spelling.

AUTHORIZATION, VALIDITY AND BINDING EFFECT. This Subject to any restrictions arising on account of the Borrower’s status a “debtor” under the Bankruptcy Code, any required approvals of the Bankruptcy Court and receipt of other consents which the parties hereto contemplate will be obtained prior to the Effective Date this Agreement and each contract, instrument and other document required hereby or at any time hereafter delivered to Lender in connection herewith (collectively, including this Agreement, the Security Agreement, Agreement and the Mortgage, the “Loan Documents”) and the performance of the transactions contemplated hereby, including the grant by the Borrower of the security interests in the Collateral as contemplated hereby are within the Borrower’s powers and have been duly authorized by the board of directors of the Borrower. Subject to any restrictions arising on account of the Borrower’s status a “debtor” under the Bankruptcy Code, any required approvals of the Bankruptcy Court and receipt of other consents which the parties hereto contemplate will be obtained prior to the Effective Date, (i) the Borrower has all requisite power and authority to enter into, consummate and perform this Agreement and carry out all of the terms and provisions of this Agreement and (ii) upon their execution and delivery in accordance with the provisions hereof, the Loan Documents will constitute legal, valid and binding agreements and Obligations of the Borrower or the party which executes the same, enforceable in accordance with their respective terms.

AUTHORIZATION, VALIDITY AND BINDING EFFECT. This Agreement and each contract, instrument and other document required hereby or at any time hereafter delivered to Lender in connection herewith (collectively, including this Agreement, the Security Agreement, the Mortgage[ and the Subordination Agreement], the “Loan Documents”) and the performance of the transactions contemplated hereby, including the grant by the Borrower of the security interests in the Collateral as contemplated hereby are within the Borrower’s powers and have been duly authorized by the board of directors of the Borrower. Subject to any restrictions arising on account of the Borrower’s status a “debtor” under the Bankruptcy Code, any required approvals of the Bankruptcy Court and receipt of other consents which the parties hereto contemplate will be obtained prior to the Effective Date, (i) the Borrower has all requisite power and authority to enter into, consummate and perform this Agreement and carry out all of the terms and provisions of this Agreement and (ii) upon their execution and delivery in accordance with the provisions hereof, the Loan Documents will constitute legal, valid and binding agreements and Obligations of the Borrower or the party which executes the same, enforceable in accordance with their respective terms.

AUTHORIZATION, VALIDITY AND BINDING EFFECT. This Subject to any restrictions arising on account of the Borrower’s status a “debtor” under the Bankruptcy Code, any required approvals of the Bankruptcy Court and receipt of other consents which the parties hereto contemplate will be obtained prior to the Effective Date this Agreement and each contract, instrument and other document required hereby or at any time hereafter delivered to Lender in connection herewith (collectively, including this Agreement, the Security Agreement, Agreement and the Mortgage, the “Loan Documents”) and the performance of the transactions contemplated hereby, including the grant by the Borrower of the security interests in the Collateral as contemplated hereby are within the Borrower’s powers and have been duly authorized by the board of directors of the Borrower. Subject to any restrictions arising on account of the Borrower’s status a “debtor” under the Bankruptcy Code, any required approvals of the Bankruptcy Court and receipt of other consents which the parties hereto contemplate will be obtained prior to the Effective Date, (i) the Borrower has all requisite power and authority to enter into, consummate and perform this Agreement and carry out all of the terms and provisions of this Agreement and (ii) upon their execution and delivery in accordance with the provisions hereof, the Loan Documents will constitute legal, valid and binding agreements and Obligations of the Borrower or the party which executes the same, enforceable in accordance with their respective terms.and