Common use of Borrowing is Legal and Authorized Clause in Contracts

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

Borrowing is Legal and Authorized. (a) The execution and delivery of each of the Loan Documents which have been executed and to which the Company or any Subsidiary is a party has been authorized by the Board of Directors or other manager of such entity and will constitute valid and binding obligations enforceable in accordance with their respective terms; (b) the execution of this Agreement and related Notes and Loan Documents and the compliance with all the provisions of this Agreement (i) are within the corporate or constituent powers of 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 lien or encumbrance upon any property of the Company or any Subsidiary under the provisions of, any agreement, charter instrument, bylaw, or other instrument to which the Company or any Subsidiary is a party or by which it may be bound; and (c) there are no limitations in any indenture, material contract or agreement, mortgage, deed of trust or other agreement or instrument to which the Company or any Subsidiary is now a party or by which the Company or any Subsidiary may be 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.