Common use of Governmental Purpose Clause in Contracts

Governmental Purpose. The Authority has financed all of the Financed Eligible Loans in accordance with the purposes for which it was organized under the laws of the State of Missouri and for a valid, governmental purpose has undertaken the transactions contemplated herein as principal rather than as an agent of any other Person. The Authority has a valid governmental purpose for granting the Trust Estate pursuant to this Indenture. The Authority has adopted and operated the Program consistently with all material requirements under the laws of the State of Missouri with respect to its operations.

Governmental Purpose. The Authority has financed all of the Financed Eligible Loans in accordance with the purposes for which it was organized under the laws of the State of Missouri and for a valid, governmental purpose has undertaken the transactions contemplated herein as principal rather than as an agent of any other Person. The Authority has a valid governmental purpose for granting the Trust Estate pursuant to this Indenture. The Authority has adopted and operated the Program consistently with all material requirements under the laws of the State of Missouri with respect to its operations.