Common use of Corporate Authorization and No Contravention Clause in Contracts

Corporate Authorization and No Contravention. The execution, delivery and performance by the Seller of each Transaction Document to which it is a party (i) are within its corporate powers, (ii) have been duly authorized by all necessary limited liability company action, (iii) do not contravene or constitute a default under (A) any applicable law, rule or regulation, (B) its limited liability company agreement or (C) (subject to the Permitted Exceptions) any agreement, order or other instrument to which it is a party or its property is subject except where such contravention or default would not reasonably be expected to have a Material Adverse Effect and (iv) will not result in any Adverse Claim on any Receivable or Collection or give cause for the acceleration of any indebtedness of the Seller.

Corporate Authorization and No Contravention. The execution, delivery and performance by the Seller of each Transaction Document to which it is a party (i) are within its corporate powers, (ii) have been duly authorized by all necessary limited liability company corporate action, (iii) do not contravene or constitute a default under (A) any applicable law, rule or regulationregulation binding on Seller in any material respect, (B) its limited liability company agreement charter or by-laws or (C) (subject to the Permitted Exceptions) any agreement, order or other instrument to which it is a party or its property is subject except where to the extent such contravention or default would not reasonably be expected to have a Material Adverse Effect Effect, and (iv) will not result in any Adverse Claim on any Receivable Receivable, the Related Security or Collection or give cause for the acceleration of any indebtedness of the Seller.