Common use of Binding Nature of Covenants Clause in Contracts

Binding Nature of Covenants. All covenants, stipulations, obligations and agreements of the Governmental Unit contained in this Loan Agreement shall be deemed to be the covenants, stipulations, obligations and agreements of the Governmental Unit to the full extent authorized or permitted by law, and such covenants, stipulations, obligations and agreements shall be binding upon the Governmental Unit and its successors and upon any board or body to which any powers or duties affecting such covenants, stipulations, obligations and agreements shall be transferred by or in accordance with law. Except as otherwise provided in this Loan Agreement, all rights, powers and privileges conferred and duties and liabilities imposed upon the Governmental Unit by the provisions of this Loan Agreement and the Ordinance shall be exercised or performed by the Governmental Unit or by such members, officers, or officials of the Governmental Unit as may be required by law to exercise such powers and to perform such duties.

Binding Nature of Covenants. All covenants, stipulations, obligations and agreements of the Governmental Unit Grantee contained in this Loan Grant Agreement and the Resolution shall be deemed to be the covenants, stipulations, obligations and agreements of the Governmental Unit Grantee to the full extent authorized or permitted by law, and such covenants, stipulations, obligations and agreements shall be binding upon the Governmental Unit Grantee and its successors and upon any board or body to which any powers or duties affecting such covenants, stipulations, obligations and agreements agreement shall be transferred by or in accordance with law. Except as otherwise provided in this Loan Grant Agreement, all rights, powers and privileges conferred and duties and liabilities imposed upon the Governmental Unit Grantee by the provisions of this Loan Grant Agreement and the Ordinance Resolution shall be exercised or performed by the Governmental Unit Grantee or by such membersresidents, officers, or officials of the Governmental Unit Grantee as may be required by law to exercise such powers and to perform such duties.

Binding Nature of Covenants. All covenants, stipulations, obligations and agreements of the Governmental Unit contained in this Loan Agreement shall be deemed to be the covenants, stipulations, obligations and agreements of the Governmental Unit to the full extent authorized or permitted by law, and such covenants, stipulations, obligations and agreements shall be binding upon the Governmental Unit and its successors and upon any board or body to which any powers or duties affecting such covenants, stipulations, obligations and agreements shall be transferred by or in accordance with law. Except as otherwise provided in this Loan Agreement, all rights, powers and privileges conferred and duties and liabilities imposed upon the Governmental Unit by the provisions of this Loan Agreement and the Ordinance Resolution shall be exercised or performed by the Governmental Unit or by such members, officers, or officials of the Governmental Unit as may be required by law to exercise such powers and to perform such duties.