Necessary Action. Pledgor has all necessary power and authority to execute, deliver and perform its obligations under this Agreement; the execution, delivery and performance by Pledgor of this Agreement has been duly authorized by all necessary action on its part; and this Agreement has been duly and validly executed and delivered by Pledgor and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms, subject to bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’ rights in general and to general principles of equity.
Appears in 5 contracts
Samples: Pledge and Security Agreement (Carey Watermark Investors 2 Inc), Pledge and Security Agreement (Carey Watermark Investors Inc), Pledge and Security Agreement (MPG Office Trust, Inc.)
Necessary Action. Pledgor has all necessary requisite power and authority to execute, deliver and perform its obligations under this Pledge Agreement; the execution, delivery and performance by Pledgor of this Pledge Agreement has been duly authorized by all necessary action on its partaction; and this Pledge Agreement has been duly and validly executed and delivered by Pledgor and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms, subject to bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’ rights in general and to general principles of equity.
Appears in 2 contracts
Samples: Junior Mezzanine Pledge and Security Agreement (KBS Strategic Opportunity REIT, Inc.), Senior Mezzanine Pledge and Security Agreement (KBS Strategic Opportunity REIT, Inc.)
Necessary Action. Pledgor has all necessary power and authority to execute, deliver and perform its obligations under this Agreement; the execution, delivery and performance by Pledgor of this Agreement has been duly authorized by all necessary action on its part; and this Agreement has been duly and validly executed and delivered by Pledgor and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms, subject to bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’ ' rights in general and to general principles of equity.
Appears in 2 contracts
Samples: Guarantor Pledge and Security Agreement (Horizon Group Properties Inc), Pledge and Security Agreement (Horizon Group Properties Inc)
Necessary Action. Such Pledgor has all necessary power and authority to execute, deliver and perform its obligations under this Agreement; the execution, delivery and performance by such Pledgor of this Agreement has been duly authorized by all necessary action on its part; and this Agreement has been duly and validly executed and delivered by such Pledgor and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms, subject to bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’ ' rights in general and to general principles of equity.
Appears in 1 contract
Samples: Pledge and Security Agreement (Humphrey Hospitality Trust Inc)
Necessary Action. Such Pledgor has all necessary power and authority to execute, deliver and perform its obligations under this Agreement; the execution, delivery and performance by such Pledgor of this Agreement has been duly authorized by all necessary action on its part; and this Agreement has been duly and validly executed and delivered by such Pledgor and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms, subject to bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’ rights in general and to general principles of equity.
Appears in 1 contract
Samples: Pledge and Security Agreement (Supertel Hospitality Inc)
