Common use of Corporate Authority of the Borrower Clause in Contracts

Corporate Authority of the Borrower. The Borrower is a corporation duly created, validly existing, and in good standing under the laws of the State of Delaware, and is duly qualified and in good standing as foreign corporation in Louisiana and all other jurisdictions where the failure to qualify would have a Material Adverse Effect. The Borrower has the corporate power to enter into this Agreement and execute the Notes. The Borrower has the corporate power to perform its obligations hereunder and under the Loan Documents. The execution, delivery, and performance by the Borrower of the Loan Documents have all been duly authorized by all necessary corporate or company action, and do not and will not result in any material violation by the Borrower of any provision of any law, rule, regulation, order, writ, judgment, decree, determination or award presently in effect having applicability to the Borrower, or the articles of incorporation and bylaws of the Borrower. The making and performance by the Borrower of the Loan Documents do not and will not result in a breach of or constitute a default under any material indenture or loan or credit agreement or any other material agreement or instrument to which the Borrower is a party or by which it may be bound or affected, or result in, or require, the creation or imposition of any mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance of any nature (other than as contemplated by the Loan Documents) upon or with respect to any of the properties now owned or hereafter acquired by the Borrower. Each of the Loan Documents to which the Borrower is a party constitutes a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its respective terms except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the availability of equitable remedies for the enforcement of certain obligations (other than the payment of principal) contained herein or therein and as may be limited by equitable principles generally.

Corporate Authority of the Borrower. The Borrower is a corporation duly created, validly existing, and in good standing under the laws of the State of Delaware, and is duly qualified and in good standing as foreign corporation in Louisiana and all other jurisdictions where the failure to qualify would have a Material Adverse Effectmaterial adverse effect upon its ability to perform its obligations under this Agreement and all Loan Documents to which it is a party. The Borrower has the corporate power to enter into this Agreement and execute the Notes. The Borrower has the corporate power to perform its obligations hereunder and under the Loan Documents. The execution, delivery, and performance by the Borrower of the Loan Documents have all been duly authorized by all necessary corporate or company action, and do not and will not result in any material violation by the Borrower of any provision of any law, rule, regulation, order, writ, judgment, decree, determination or award presently in effect having applicability to the Borrower, or the articles of incorporation and bylaws of the Borrower. The making and performance by the Borrower of the Loan Documents do not and will not result in a breach of or constitute a default under any material indenture or loan or credit agreement or any other material agreement or instrument to which the Borrower is a party or by which it may be bound or affected, or result in, or require, the creation or imposition of any mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance of any nature (other than as contemplated by the Loan Documents) upon or with respect to any of the properties now owned or hereafter acquired by the Borrower. Each of the Loan Documents to which the Borrower is a party constitutes a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its respective terms except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the availability of equitable remedies for the enforcement of certain obligations (other than the payment of principal) contained herein or therein and as may be limited by equitable principles generally.

Corporate Authority of the Borrower. The Borrower is a corporation duly created, validly existing, and in good standing under the laws of the State of Delawarestate its incorporation, and is duly qualified and in good standing as foreign corporation in Louisiana and all other jurisdictions where the failure to qualify would have an adverse effect upon its ability to perform its obligations under this Agreement and all Related Documents to which it is a Material Adverse Effectparty. The Borrower has the corporate power to enter into this Agreement, execute the Mortgages, the Security Agreement, the Intercreditor Agreement and execute each other Loan Document to which it is a party and to grant the Notesliens and security interests in the Collateral in the manner and for the purpose contemplated by the Collateral Documents. The Borrower has the corporate power to perform its obligations hereunder and under the Loan Documents and Related Documents. The execution, delivery, and performance by the Borrower of the Loan Documents and Related Documents have all been duly authorized by all necessary corporate or company action, and do not and will not result in any material violation by the Borrower of any provision of any law, rule, regulation, order, writ, judgment, decree, determination or award presently in effect having applicability to the Borrower, or the articles of incorporation and bylaws of the Borrower. The Except as set forth in Schedule 4.01 attached hereto, the making and Table of Contents performance by the Borrower of the Loan Documents and Related Documents do not and will not result in a breach of or constitute a default under the Revolving Credit Agreement or any material indenture or other loan or credit agreement or any other material agreement or instrument to which the Borrower is a party or by which it may be bound or affected, or result in, or require, the creation or imposition of any mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance of any nature (other than as contemplated by the Loan Related Documents) upon or with respect to any of the properties now owned or hereafter acquired by the Borrower. Each of the Loan Documents and Related Documents to which the Borrower is a party constitutes a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its respective terms except as the same may be limited by terms, subject to applicable bankruptcy, insolvency, and reorganization, moratorium or other similar laws affecting the creditors’ rights of creditors generally and the availability subject to general principles of equitable remedies for the enforcement equity, regardless of certain obligations (other than the payment of principal) contained herein whether considered in a proceeding in equity or therein and as may be limited by equitable principles generallyat law.