Common use of Corporate Power and Authority; Due Authorization Clause in Contracts

Corporate Power and Authority; Due Authorization. The execution, delivery and performance by Funding Recipient of this Agreement and the Security Agreement have been duly authorized by all necessary corporate action by Funding Recipient and do not and will not: (a) require any consent or approval of any Governmental Authorities or other Person, except such consents and approvals as have been secured by Funding Recipient and are in effect on the date of this Agreement; (b) contravene the charter or by-laws of Funding Recipient; (c) violate any provision of, or require any filing, registration, consent or approval under, any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect having applicability to Funding Recipient; (d) result in a breach of, or constitute a default or require any consent under, any indenture or agreement, lease or instrument to which Funding Recipient is a party or its properties may be bound or affected, including, without limitation, any of the Transactional Documents; (e) cause Funding Recipient to be in violation of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award, or in default under any such indenture, agreement, lease or instrument, including, without limitation, any of the Transactional Documents; or (f) result in or require the creation or imposition of a Lien, upon or with respect to any of the properties or interests now owned or hereafter acquired by Funding Recipient, except for Liens in favor of the City.

Corporate Power and Authority; Due Authorization. The execution, delivery and performance by Funding Recipient of this Agreement and the Security Agreement have been duly authorized by all necessary corporate action by Funding Recipient and do not and will not: (a) require any consent or approval of any Governmental Authorities or other Person, except such consents and approvals as have been secured by Funding Recipient and are in effect on the date of this Agreementits stockholders; (b) contravene the its charter or by-laws of Funding Recipientlaws; (c) violate any provision of, or require any filing, registration, consent or approval under, any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect having applicability to Funding Recipient; (d) result in a breach of, or constitute a default or require any consent under, under any indenture or loan or credit agreement or any other agreement, lease or instrument to which Funding Recipient is a party or by which it or its properties may be bound or affected; (e) result in, includingor require, without limitationthe creation or imposition of any Lien, upon or with respect to any of the Transactional Documentsproperties now owned or hereafter acquired by Funding Recipient; or (ef) cause Funding Recipient to be in violation of default under any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award, award or in default under any such indenture, agreement, lease or instrument, including, without limitation, any of the Transactional Documents; or (f) result in or require the creation or imposition of a Lien, upon or with respect to any of the properties or interests now owned or hereafter acquired by Funding Recipient, except for Liens in favor of the City.instrument.‌‌