Common use of Borrowing is Legal and Authorized Clause in Contracts

Borrowing is Legal and Authorized. (a) The Board of Directors, or other equivalent body, of each Company has duly authorized the execution and delivery of this Agreement and of the notes and documents contemplated herein; (b) this Agreement, the notes and other documents executed in connection with this Agreement will constitute valid and binding obligations of each Company enforceable in accordance with their respective terms; (c) the execution of this Agreement and related notes and documents and the compliance by each Company with all the provisions of this Agreement (i) are within the legal and organizational powers of each Company; and (ii) are legal and will not conflict with, result in any breach in any provision of, constitute a default under, or result in the creation of any lien or encumbrance upon any property of each Company (other than in favor of the Bank) under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which said Company is a party or by which it may be bound; and (d) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust, or other agreement or instrument to which each Company is now a party or by which each Company may be bound with respect to the payment of principal or interest on any indebtedness, or each Company's ability to incur indebtedness, including the Note to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. (a) The Board of Directors, or other equivalent body, Directors of each the Company has duly authorized the execution and delivery of this Agreement and of the notes Notes and documents contemplated herein; (b) , and this Agreement, the notes Notes and other documents executed in connection with this Agreement will constitute valid and binding obligations of each the Company enforceable in accordance with their respective terms; (cb) the execution of this Agreement and related notes the Notes and all documents and the compliance by each the Company with all the provisions of this Agreement (i) are within the legal and organizational corporate powers of each the Company; and (ii) are legal and will not conflict with, result in any breach in any provision of the provisions of, constitute a default under, or result in the creation of any lien or encumbrance upon any property of each the Company (other than in favor of the Bank) under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which said the Company is a party or by which it may be bound; and (dc) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust, trust or other agreement or instrument to which each the Company is now a party or by which each the Company may be bound (except those in favor of Huntington) with respect to the payment of principal or interest on any indebtedness, or each the Company's ability to incur indebtedness, including the Note Notes to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. (a) The Board of Directors, or other equivalent body, of each Company has duly authorized the execution and delivery of this Agreement and of the notes and documents contemplated herein; (b) this Agreement, the notes and other documents executed in connection with this Agreement will constitute valid and binding obligations of each Company enforceable in accordance with their respective terms; (c) the execution of this Agreement and related notes and documents and the compliance by each Company with all the provisions of this Agreement (i) are within the legal and organizational corporate or limited liability company powers of each Company; and (ii) are legal and will not conflict with, result in any breach in any provision of, constitute a default under, or result in the creation of any lien or encumbrance upon any property of each Company (other than in favor of the Bank) under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which said Company is a party or by which it may be bound; and (d) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust, or other agreement or instrument to which each Company is now a party or by which each Company may be bound with respect to the payment of principal or interest on any indebtedness, or each Company's ability to incur indebtedness, including the Note to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. (a) The Executive Committee of the Board of Directors, or other equivalent body, Directors of each the Company has duly authorized the execution and delivery of this Agreement and of the notes Notes and documents contemplated herein; (b) , and this Agreement, the notes Notes and other documents executed in connection with this Agreement will constitute valid and binding obligations of each the Company enforceable in accordance with their respective terms; (cb) the execution of this Agreement and related notes the Notes and all documents and the compliance by each the Company with all the provisions of this Agreement (i) are within the legal and organizational corporate powers of each the Company; and (ii) are legal and will not conflict with, result in any breach in any provision of the provisions of, constitute a default under, or result in the creation of any lien or encumbrance upon any property of each the Company (other than in favor of the Bank) under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which said the Company is a party or by which it may be bound; and (dc) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust, trust or other agreement or instrument to which each the Company is now a party or by which each the Company may be bound (except those in favor of Huntington) with respect to the payment of principal or interest on any indebtedness, or each the Company's ability to incur indebtedness, including the Note Notes to be executed in connection with this Agreement.