Common use of DUE AUTHORIZATION; NO CONFLICTS OR VIOLATIONS Clause in Contracts

DUE AUTHORIZATION; NO CONFLICTS OR VIOLATIONS. The execution, delivery and performance of this Agreement, and the grant of the security interest contemplated herein, (i) has been duly authorized by all requisite corporate action of the Debtor and will not violate any provision of any law, any order of any court or other agency of the United States or of any state thereof; and (ii) will not violate any provision of the Articles of Incorporation or By-laws of the Debtor, or any provision of any material agreement or instrument to which the Debtor is a party or by which the Debtor or any of the Collateral may be bound, or be in conflict with, result in a breach of or constitute a default under, any such agreement or other instrument, or result in the creation or imposition of any Encumbrance upon the Collateral (other than Encumbrances approved by the Secured Party in its sole discretion) of any nature whatsoever;