Common use of Borrowing is Legal and Authorized Clause in Contracts

Borrowing is Legal and Authorized. All necessary limited liability company action has been taken in order to duly authorize each Borrower's execution and delivery of this Agreement and the other Loan Documents; (a) this Agreement and the other Loan Documents constitute valid and binding obligations enforceable in accordance with their respective terms; (b) the execution of this Agreement and the other Loan Documents and the compliance with all the provisions of the Loan Documents (i) are within the organizational powers of each Borrower, and (ii) will not conflict with, result in any breach in any of the provisions of, constitute a default under, or result in the creation of any Lien (other than a Permitted Lien) upon any property of any Borrower under the provisions of any agreement, charter instrument, bylaw, or other instrument to which any Borrower is a party or by which it may be bound; and (c) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust or other agreement or instrument to which any Borrower is now a party or by which any Borrower may be bound with respect to the payment of any Indebtedness, or, to the extent applicable, the ability of any Borrower to incur Indebtedness, including any agreements or instruments to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. All necessary limited liability company action (a) The Board of Directors of the Borrower has been taken in order to duly authorize each Borrower's authorized the execution and delivery of this Agreement and of the notes and documents contemplated herein; this Agreement, the notes and other Loan Documents; (a) documents executed in connection with this Agreement and the other Loan Documents will constitute valid and binding obligations enforceable in accordance with their respective terms; (b) the execution of this Agreement and the other Loan Documents related notes and documents and the compliance with all the provisions of the Loan Documents this Agreement (i) are within the organizational corporate powers of each the Borrower, ; and (ii) are legal and will not conflict with, result in any breach in any of the provisions of, constitute a default under, or result in the creation of any Lien (other than a Permitted Lien) lien or encumbrance upon any property of any the Borrower under the provisions of of, any agreement, charter instrument, bylaw, or other instrument to which any the Borrower is a party or by which it may be bound; and (c) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust or other agreement or instrument to which any the Borrower is now a party or by which any the Borrower may be bound with respect to the payment of principal or interest on any Indebtednessindebtedness, or, to or the extent applicable, the Borrower's ability of any Borrower to incur Indebtedness, indebtedness including any agreements or instruments the notes to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. All necessary limited liability company action (a) The Board of Directors of the Borrower has been taken in order to duly authorize each Borrower's authorized the execution and delivery of this Agreement and of the notes and documents contemplated herein; this Agreement, the notes and other Loan Documents; (a) documents executed in connection with this Agreement and the other Loan Documents will constitute valid and binding obligations enforceable in accordance with their respective terms; (b) the execution of this Agreement and the other Loan Documents related notes and documents and the compliance with all the provisions of the Loan Documents this Agreement (i) are within the organizational corporate powers of each the Borrower, ; and (ii) are legal and will not conflict with, result in any breach in any of the provisions of, constitute a default under, or result in the creation of any Lien (other than a Permitted Lien) lien or encumbrance upon any property of any the Borrower under the provisions of any agreement, charter instrument, bylaw, or other instrument to which any the Borrower is a party or by which it may be bound; and (c) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust or other agreement or instrument to which any the Borrower is now a party or by which any the Borrower may be bound with respect to the payment of principal or interest on any Indebtednessindebtedness, or, to or the extent applicable, the Borrower's ability of any Borrower to incur Indebtedness, indebtedness including any agreements or instruments the notes to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. (a) All necessary limited liability company corporate action has been taken in order to duly authorize each Borrower's ’s execution and delivery of this Agreement and the other Loan Documents; (ab) this Agreement and the other Loan Documents constitute valid and binding obligations enforceable in accordance with their respective terms; (bc) the execution of this Agreement and the other Loan Documents and the compliance with all the provisions of the Loan Documents (i) are within the organizational powers of each Borrower, and (ii) will not conflict with, result in any breach in any of the provisions of, constitute a default under, or result in the creation of any Lien (other than a Permitted Lien) upon any property of any Borrower under the provisions of the Master Credit Facility or any other agreement, charter instrument, bylaw, or other instrument to which any Borrower is a party or by which it may be bound; and (cd) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust or other agreement or instrument to which any Borrower is now a party or by which any Borrower may be bound with respect to the payment of any IndebtednessObligations under this Agreement, or, to the extent applicable, the ability of any Borrower to incur Indebtedness, including any agreements or instruments the Indebtedness pursuant to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. All necessary limited liability company action has been taken in order to (a) The partners of the Borrower have duly authorize each Borrower's authorized the execution and delivery of this Agreement and of the notes and documents contemplated herein; this Agreement, the notes and other Loan Documents; (a) documents executed in connection with this Agreement and the other Loan Documents will constitute valid and binding obligations enforceable in accordance with their respective terms; (b) the execution of this Agreement and the other Loan Documents related notes and documents and the compliance with all the provisions of the Loan Documents this Agreement (i) are within the organizational powers of each the Borrower, ; and (ii) are legal and will not conflict with, result in any breach in any of the provisions of, constitute a default under, or result in the creation of any Lien (other than a Permitted Lien) lien or encumbrance upon any property of any the Borrower under the provisions of of, any agreement, charter instrument, bylaw, or other instrument to which any the Borrower is a party or by which it may be bound; and (c) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust or other agreement or instrument to which any the Borrower is now a party or by which any the Borrower may be bound with respect to the payment of principal or interest on any Indebtednessindebtedness, or, to or the extent applicable, the Borrower's ability of any Borrower to incur Indebtedness, indebtedness including any agreements or instruments the notes to be executed in connection with this Agreement.