Common use of Borrowing is Legal and Authorized Clause in Contracts

Borrowing is Legal and Authorized. (a) The Board of Directors of each Company has duly authorized the execution and delivery of this Agreement and of the notes, and documents contemplated herein; 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; (b) 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 corporate powers of each Company, 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 or encumbrance upon any property of either Company under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which either Company is a party or by which either Company may be bound; (c) there are no limitations in any indenture, contract, agreement, mortgage, deed of trust, or other agreement or instrument to which either Company is now a party or by which either Company may be

Borrowing is Legal and Authorized. (a) The Board of Directors of each Company has duly authorized the execution and delivery of this Agreement and each of the notes, Loan Documents which have been executed and documents contemplated herein; this Agreement, to which the notes Company or any Subsidiary is a party has been authorized by the Board of Directors or other manager of such entity 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; (b) the execution of this Agreement and related notes Notes and documents Loan Documents and the compliance by each Company with all the provisions of this Agreement (i) are within the corporate or constituent powers of each Company, such entity; 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 or encumbrance Lien upon any property of either the Company or any Subsidiary under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which either the Company or any Subsidiary is a party or by which either Company it may be bound; and (c) there are no limitations in any indenture, contract, material contract or agreement, mortgage, deed of trust, trust or other agreement or instrument to which either the Company or any Subsidiary is now a party or by which either the Company or any Subsidiary may bebe bound with respect to the payment of principal or interest on any Indebtedness, or the ability of Company or any Subsidiary to incur Indebtedness, including the Notes to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. (a) The Board of Directors of each Company has duly authorized the execution and delivery of this Agreement and each of the notes, Loan Documents which have been executed and documents contemplated herein; this Agreement, to which the notes Company or any Subsidiary is a party has been authorized by the Board of Directors or other manager of such entity 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; (b) the execution of this Agreement and related notes Notes and documents Loan Documents and the compliance by each Company with all the provisions of this Agreement (i) are within the corporate or constituent powers of each Company, such entity; 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 or encumbrance upon any property of either the Company or any Subsidiary under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which either the Company or any Subsidiary is a party or by which either Company it may be bound; and (c) there are no limitations in any indenture, contract, material contract or agreement, mortgage, deed of trust, trust or other agreement or instrument to which either the Company or any Subsidiary is now a party or by which either the Company or any Subsidiary may bebe bound with respect to the payment of principal or interest on any Indebtedness, or the ability of Company or any Subsidiary to incur Indebtedness, including the Notes to be executed in connection with this Agreement.

Borrowing is Legal and Authorized. (a) The Board of Directors of each Company has duly authorized the execution and delivery of this Agreement and each of the notes, Loan Documents which have been executed and documents contemplated herein; this Agreement, to which the notes Company or any Subsidiary is a party has been authorized by the Board of Directors or other manager of such entity 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; (b) the execution of this Agreement and related notes Notes and documents Loan Documents and the compliance by each Company with all the provisions of this Agreement (i) are within the corporate or constituent powers of each Company, such entity; 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 or encumbrance upon any property of either the Company or any Subsidiary under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which either the Company or any Subsidiary is a party or by which either Company it may be bound; and (c) there are no limitations in any indenture, contract, material contract or agreement, mortgage, deed of trust, trust or other agreement or instrument to which either the Company or any Subsidiary is now a party or by which either the Company or any Subsidiary may bebe bound with respect to the payment of principal or interest on any Indebtedness, or the Company's or any Subsidiary's ability to incur Indebtedness, including the Notes to be executed in connection with this Agreement.