Common use of Corporate or Partnership and Governmental Authorization; Contravention Clause in Contracts

Corporate or Partnership and Governmental Authorization; Contravention. The execution and delivery by it of its Election to Participate and its Notes, and the performance by it of this Agreement and its Notes, are within its legal powers, have been duly authorized by all necessary corporate, partnership or other legal action, require no action by or in respect of, or filing with, any governmental body, agency or official and do not contravene, or constitute a default under, in any material respect any provision of applicable law or regulation or of its organizational documents or of any indenture or other agreement or instrument governing Debt or any other material agreement or instrument binding upon the Company or such Eligible Subsidiary or result in the creation or imposition of any liens or encumbrances on any asset of the Company or any of its Subsidiaries.