LEGAL AUTHORIZATION. Upon signing this Agreement, the Project Sponsor’s legal counsel hereby expresses the opinion, subject to laws affecting the rights of creditors generally, that: (1) This Agreement has been duly authorized by the Project Sponsor and shall constitute a valid and legal obligation of the Project Sponsor enforceable in accordance with its terms upon execution by both parties; and (2) This Agreement identifies the revenues pledged for repayment of the Loan, and the pledge is valid and enforceable.
Appears in 8 contracts
Samples: Drinking Water State Revolving Fund Planning, Design and Construction Loan Agreement, Drinking Water State Revolving Fund Design Loan Agreement, Drinking Water State Revolving Fund Planning and Design Loan Agreement
LEGAL AUTHORIZATION. Upon signing this Agreement, the Project Sponsor’s legal counsel hereby expresses the opinion, subject to laws affecting the rights of creditors generally, that:
(1) This Agreement has been duly authorized by the Project Sponsor and shall constitute a valid and legal obligation of the Project Sponsor enforceable in accordance with its terms upon execution by both parties; and
(2) This Agreement identifies specifies the revenues pledged for repayment of the Loan, and the pledge is valid and enforceable.
Appears in 1 contract
Samples: Drinking Water State Revolving Fund Construction Loan Agreement
