Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's financial condition, results of operation or business or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 3 contracts
Samples: Loan and Security Agreement (Drugmax Inc), Loan and Security Agreement (Streicher Mobile Fueling Inc), Loan and Security Agreement (Zila Inc)
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's ’s financial condition, results of operation or business or the rights of Lender Agent in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's ’s corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's ’s certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements to which Borrower is a party constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 2 contracts
Samples: Loan and Security Agreement (Reptron Electronics Inc), Loan and Security Agreement (Reptron Electronics Inc)
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's ’s financial condition, results of operation or business or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's ’s corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's ’s certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 2 contracts
Samples: Loan and Security Agreement (Ecost Com Inc), Loan and Security Agreement (Impreso Inc)
Corporate Existence, Power and Authority. Each Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's Borrowers' financial condition, results of operation or business or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within each Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of any Borrower's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which any Borrower is a party or by which any Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of any Borrower. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower Borrowers enforceable in accordance with their respective terms.
Appears in 2 contracts
Samples: Loan and Security Agreement (Guess Inc Et Al/Ca/), Loan and Security Agreement (Guess Inc Et Al/Ca/)
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's financial condition, results of operation or business or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are is bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 1 contract
Samples: Loan and Security Agreement (Impax Laboratories Inc)
Corporate Existence, Power and Authority. Borrower (a) Buyer is a corporation duly organized and in good standing under the laws of Delaware, its state of incorporation incorporation, and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on BorrowerBuyer's financial condition, results of operation or business or the rights of Lender Seller in or to any of the Collateral. .
(b) The execution, delivery and performance of this AgreementAddendum, the other Financing Security Agreements and the transactions contemplated hereunder and thereunder thereunder:
(ai) are Are all within BorrowerBuyer's corporate powers, ;
(bii) have Have been duly authorized, ;
(ciii) are Are not in contravention of law or the terms of BorrowerBuyer's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower Buyer is a party or by which Borrower Buyer or its property are bound and bound; and
(div) will Will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. Buyer, except as provided in this Addendum.
(c) This Agreement Addendum and the other Financing Security Agreements constitute legal, valid and binding obligations of Borrower Buyer enforceable in accordance with their respective terms.
Appears in 1 contract
Corporate Existence, Power and Authority. Each Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect Material Adverse Effect on such Borrower's financial condition, results of operation or business or the rights of Lender Agent in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within each Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of any Borrower's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which any Borrower is a party or by which any Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of any Borrower. This Agreement and the other Financing Agreements to which any Borrower is a party constitute legal, valid and binding obligations of such Borrower enforceable in accordance with their respective terms.
Appears in 1 contract
Corporate Existence, Power and Authority. Borrower and any Subsidiary of Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's or such Subsidiary's financial condition, results of operation or business or the rights of Lender Agent in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of BorrowerBorrower except pursuant to the Financing Agreements. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.This
Appears in 1 contract
Samples: Loan and Security Agreement (Anchor Glass Container Corp /New)
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's financial condition, results of operation or business or the rights of Lender Agent in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements to which Borrower is a party constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 1 contract
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state jurisdiction of incorporation organization and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's ’s financial condition, results of operation or business or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's ’s corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's ’s certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 1 contract
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect Material Adverse Effect on Borrower's financial condition, results of operation or business Borrower or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's ’s corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's certificate ’s articles of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 1 contract
Samples: Loan and Security Agreement (Value Financial Services, Inc.)
Corporate Existence, Power and Authority. Borrower Such Debtor is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's such Debtor’s financial condition, results of operation or business or the rights of Lender Collateral Agent in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Noteholder Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's such Debtor’s corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's such Debtor’s certificate of incorporation, by-laws, or other organizational documentation, documentation or any indenturePurchase Agreement, agreement or undertaking to which Borrower Debtor is a party or by which Borrower such Debtor or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance encumbrance, upon any property of Borrowersuch Debtor. This Agreement and the other Financing Noteholder Agreements constitute legal, valid and binding obligations of Borrower such Debtor enforceable in accordance with their respective terms.
Appears in 1 contract
Samples: Security Agreement (Atlantic Express Transportation Corp)
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's financial condition, results of operation or business or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's certificate articles of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 1 contract
Corporate Existence, Power and Authority. Borrower Debtor is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's Debtor’s financial condition, results of operation or business or the rights of Lender Secured Party in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's Debtor’s corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's Debtor’s certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower Debtor is a party or by which Borrower Debtor or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of BorrowerDebtor. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower Debtor enforceable in accordance with their respective terms.
Appears in 1 contract
Samples: General Security Agreement (Mad Catz Interactive Inc)
Corporate Existence, Power and Authority. Borrower Debtor is a corporation duly ---------------------------------------- organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on BorrowerDebtor's financial condition, results of operation or business or the rights of Lender Secured Party in or to any of the FAA Type Certificate Collateral. The execution, delivery and performance of this Agreement, the other Financing Assignment Agreements and the transactions contemplated hereunder and thereunder (a) are all within BorrowerDebtor's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of BorrowerDebtor's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower Debtor is a party or by which Borrower Debtor or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of BorrowerDebtor. This Agreement and the other Financing Assignment Agreements constitute legal, valid and binding obligations of Borrower Debtor enforceable in accordance with their respective terms.
Appears in 1 contract
Samples: Security Agreement (Advanced Aerodynamics & Structures Inc/)
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's financial condition, results of operation or business or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking Material Contract to which Borrower is a party or by which Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 1 contract
Corporate Existence, Power and Authority. Each Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on such Borrower's financial condition, results of operation or business or the rights of Lender in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within each Borrower's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of any Borrower's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which any Borrower is a party or by which any Borrower or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement any Borrower (other than the liens and the other Financing Agreements constitute legal, valid security interests being granted to Agent hereunder and binding obligations of Borrower enforceable in accordance with their respective termsconnection herewith).
Appears in 1 contract
Corporate Existence, Power and Authority. Borrower Debtor is a corporation duly ---------------------------------------- organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on BorrowerDebtor's financial condition, results of operation or business or the rights of Lender Secured Party in or to any of the Deferred Purchase Price Collateral. The execution, delivery and performance of this Agreement, the other Financing Assignment Agreements and the transactions contemplated hereunder and thereunder (a) are all within BorrowerDebtor's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of BorrowerDebtor's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower Debtor is a party or by which Borrower Debtor or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of BorrowerDebtor. This Agreement and the other Financing Assignment Agreements constitute legal, valid and binding obligations of Borrower Debtor enforceable in accordance with their respective terms.
Appears in 1 contract
Samples: Collateral Assignment of Debt and Security Agreements (Advanced Aerodynamics & Structures Inc/)
Corporate Existence, Power and Authority. Borrower is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's financial condition, results of operation or business or the rights of Lender in or to any of the CollateralMaterial Adverse Effect. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's ’s corporate powers, and (b) have been duly authorizedauthorized and, subject to the entry of the Orders and the terms thereof, (ci) are not in contravention of law or the terms of Borrower's ’s certificate of incorporation, by-laws, or other organizational documentationGoverning Documents, or any indenture, agreement or undertaking to which Borrower is a party or by which Borrower or its property are bound and (dii) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrower. This Agreement and the other Financing Agreements to which Borrower is a party constitute legal, valid and binding obligations of Borrower enforceable in accordance with their respective terms.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Trailer Bridge Inc)
Corporate Existence, Power and Authority. Borrower Each Debtor is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's such Debtor’s financial condition, results of operation or business or the rights of Lender Secured Party in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's each Debtor’s corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's each Debtor’s certificate of incorporation, by-by laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower such Debtor is a party or by which Borrower such Debtor or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrowersuch Debtor. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower each Debtor enforceable in accordance with their respective terms.
Appears in 1 contract
Corporate Existence, Power and Authority. Borrower Such Debtor is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrowersuch Debtor's financial condition, results of operation or business or the rights of Lender Collateral Agent in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Noteholder Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrowersuch Debtor's corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrowersuch Debtor's certificate of incorporation, by-laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower Debtor is a party or by which Borrower such Debtor or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrowersuch Debtor. This Agreement and the other Financing Noteholder Agreements constitute legal, valid and binding obligations of Borrower such Debtor enforceable in accordance with their respective terms.
Appears in 1 contract
Samples: Security Agreement (Block 7932 Inc)
Corporate Existence, Power and Authority. Borrower Each Debtor is a corporation duly organized and in good standing under the laws of its state of incorporation and is duly qualified as a foreign corporation and in good standing in all states or other jurisdictions where the nature and extent of the business transacted by it or the ownership of assets makes such qualification necessary, except for those jurisdictions in which the failure to so qualify would not have a material adverse effect on Borrower's such Debtor’s financial condition, results of operation or business or the rights of Lender Secured Party, Tranche B Agent or Lenders in or to any of the Collateral. The execution, delivery and performance of this Agreement, the other Financing Agreements and the transactions contemplated hereunder and thereunder (a) are all within Borrower's each Debtor’s corporate powers, (b) have been duly authorized, (c) are not in contravention of law or the terms of Borrower's each Debtor’s certificate of incorporation, by-by laws, or other organizational documentation, or any indenture, agreement or undertaking to which Borrower such Debtor is a party or by which Borrower such Debtor or its property are bound and (d) will not result in the creation or imposition of, or require or give rise to any obligation to grant, any lien, security interest, charge or other encumbrance upon any property of Borrowersuch Debtor. This Agreement and the other Financing Agreements constitute legal, valid and binding obligations of Borrower each Debtor enforceable in accordance with their respective terms.
Appears in 1 contract