Common use of Corporate Authority and No Violation Clause in Contracts

Corporate Authority and No Violation. The execution, delivery and performance of this Agreement and the other Fundamental Documents and the borrowings and making of other extensions of credit hereunder (a) have been duly authorized by all necessary corporate action on the part of the Borrower, (b) will not violate any provision of any Applicable Law applicable to the Borrower or any of its Subsidiaries or any of their respective properties or assets, (c) will not violate any provision of the Certificate of Incorporation or By-Laws of the Borrower or any of its Subsidiaries, or any material Contractual Obligation of the Borrower or any of its Subsidiaries, (d) will not be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under, any material indenture, agreement, bond, note or instrument and (e) will not result in the creation or imposition of any Lien upon any property or assets of the Borrower or any of its Subsidiaries other than pursuant to this Agreement or any other Fundamental Document.

Appears in 6 contracts

Samples: Competitive Advance and Revolving Credit Agreement (PHH Corp), Competitive Advance and Revolving Credit Agreement (PHH Corp), Credit Agreement (PHH Corp)

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Corporate Authority and No Violation. The execution, delivery and performance of this Agreement and the other Fundamental Documents and the borrowings and making of other extensions of credit hereunder (a) have been duly authorized by all necessary corporate action on the part of the Borrower, (b) will not violate any provision of any Applicable Law applicable to the Borrower or any of its Subsidiaries or any of their respective properties or assets, (c) will not violate any provision of the Certificate of Incorporation or By-Laws of the Borrower or any of its Subsidiaries, or any material Contractual Obligation of the Borrower or any of its Subsidiaries, (d) will not be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under, any material indenture, agreement, bond, note or instrument and (e) will not result in the creation or imposition of any Lien upon any property or assets of the Borrower or any of its Subsidiaries other than pursuant to this Agreement or any other Fundamental Document.

Appears in 3 contracts

Samples: 364 Day Competitive Advance and Revolving Credit Agreement (Cendant Corp), 364 Day Competitive Advance and Revolving Credit Agreement (Cendant Corp), Credit Agreement (PHH Corp)

Corporate Authority and No Violation. The execution, delivery and performance of this Agreement and the other Fundamental Documents and the borrowings and making of other extensions of credit hereunder (a) have been duly authorized by all necessary corporate action on the part of the Borrower, (b) will not violate any provision of any Applicable Law applicable to the Borrower or any of its Subsidiaries or any of their respective properties or assets, (c) will not violate any provision of the Certificate of Incorporation or By-Laws of the Borrower or any of its Subsidiaries, or any material Contractual Obligation of the Borrower or any of its Subsidiaries, (d) will not be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under, any material indenture, agreement, bond, note or instrument and (e) will not result in the creation or imposition of any Lien upon any property or assets of the Borrower or any of its Subsidiaries other than pursuant to this Agreement or any other Fundamental Document.

Appears in 2 contracts

Samples: Credit Agreement (Cendant Corp), Five Year Competitive Advance and Revolving Credit Agreement (PHH Corp)

Corporate Authority and No Violation. The execution, delivery and performance of this Agreement and the other Fundamental Documents and the borrowings and making of other extensions of credit hereunder (a) have been duly authorized by all necessary corporate action on the part of the BorrowerBorrowers, (b) will not violate any provision of any Applicable Law applicable to the Borrower or any of its Subsidiaries or any of their respective properties or assets, (c) will not violate any provision of the Certificate of Incorporation or By-Laws of the Borrower or any of its Subsidiaries, or any material Contractual Obligation of the Borrower or any of its Subsidiaries, (d) will not be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under, any material indenture, agreement, bond, note or instrument and (e) will not result in the creation or imposition of any Lien upon any property or assets of the Borrower or any of its Subsidiaries other than pursuant to this Agreement or any other Fundamental Document.

Appears in 2 contracts

Samples: 364 Day Competitive Advance and Revolving Credit Agreement (PHH Corp), 364 Day Competitive Advance and Revolving Credit Agreement (Cendant Corp)

Corporate Authority and No Violation. The execution, delivery and performance of this Agreement and the other Fundamental Documents and the borrowings and making of other extensions of credit hereunder (a) have been duly authorized by all necessary corporate action on the part of the Borrowereach Loan Party, (b) will not violate any provision of any Applicable Law applicable to the Borrower or any of its Subsidiaries or any of their respective properties or assets, (c) will not violate any provision of the Certificate of Incorporation or By-Laws or other organizational documents of the Borrower or any of its Subsidiaries, or any material Contractual Obligation of the Borrower or any of its Subsidiaries, (d) will not be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under, any material indenture, agreement, bond, note or instrument and (e) will not result in the creation or imposition of any Lien upon any property or assets of the Borrower or any of its Subsidiaries other than pursuant to this Agreement or any other Fundamental Document.

Appears in 2 contracts

Samples: Credit Agreement (PHH Corp), Credit Agreement (PHH Corp)

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Corporate Authority and No Violation. The execution, delivery and performance of this Agreement and the other Fundamental Documents and the borrowings and making of other extensions of credit hereunder (a) have been duly authorized by all necessary corporate action on the part of the Borrower, (b) will not violate any provision of any Applicable Law applicable to the Borrower or any of its Subsidiaries or any of their respective properties or assets, (c) will not violate any provision of the Certificate of Incorporation or By-Laws of the Borrower or any of its Subsidiaries, or any material Contractual Obligation of the Borrower or any of its Subsidiaries, (d) will not be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under, any material indenture, agreement, bond, note or instrument and (e) will not result in the creation or imposition of any Lien upon any property or assets of the Borrower or any of its Subsidiaries other than pursuant to this Agreement or any other Fundamental Document.

Appears in 1 contract

Samples: Competitive Advance and Revolving Credit Agreement (PHH Corp)

Corporate Authority and No Violation. The execution, delivery and performance of this Agreement Parent Guaranty by the Parent and the other Fundamental Loan Documents by the other Loan Parties and the borrowings and making of other extensions of credit hereunder thereunder (a) have been duly authorized by all necessary corporate action on the part of the BorrowerParent, (b) will not violate any provision of any Applicable Law applicable to the Borrower Parent or any of its Subsidiaries or any of their respective properties or assets, (c) will not violate any provision of the Certificate of Incorporation or By-By Laws or other organizational documents of the Borrower Parent or any of its Subsidiaries, or any material Contractual Obligation of the Borrower Parent or any of its Subsidiaries, (d) will not be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under, any material indenture, agreement, bond, note or instrument and (e) will not result in the creation or imposition of any Lien upon any property or assets of the Borrower Parent or any of its Subsidiaries other than pursuant to this Agreement Parent Guaranty or any other Fundamental Loan Document.

Appears in 1 contract

Samples: Parent Guaranty (PHH Corp)

Corporate Authority and No Violation. The execution, delivery and performance of this Agreement and the other Fundamental Documents Loan Documents, the borrowings hereunder and the borrowings execution and making delivery of other extensions the Notes and the grant to the Lender of credit hereunder a security interest in the Collateral as contemplated by this Agreement and the mortgage lien contemplated by the Mortgages (a) have been duly authorized by all necessary corporate action on the part of the Borrowereach Obligor, (b) will not violate any provision of any Applicable Law applicable to the Borrower or any of its Subsidiaries party or any of their respective properties or assets, (c) will not violate any provision of the Certificate of Incorporation or By-Laws of the Borrower any Obligor, or any indenture, any agreement for borrowed money, any bond, note or other similar instrument or any other material agreement to which any Obligors are a party or by which any Obligor or any of its Subsidiaries, their respective properties or any material Contractual Obligation of the Borrower or any of its Subsidiariesassets are bound, (d) will not be in conflict withviolate, result in a breach of, of or constitute (with due notice or lapse of time or both) a default under, under any material such indenture, agreement, bond, note note, instrument or instrument other agreements of any Obligor and (e) will not result in the creation or imposition of any Lien upon any property or assets of the Borrower or any of its Subsidiaries Obligor other than pursuant to this Agreement or any other Fundamental Loan Document.

Appears in 1 contract

Samples: Loan and Guaranty Agreement (Showboat Inc)

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