Common use of No Breach Clause in Contracts

No Breach. None of the execution and delivery of its Designation Letter, the consummation of the transactions herein contemplated and compliance with the terms and provisions hereof will conflict with or result in a breach of, or require any consent under, the charter or by-laws of such Approved Borrower, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any agreement or instrument to which such Approved Borrower or any of its Subsidiaries is a party or by which any of them is bound or to which any of them is subject, or constitute a default under any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved the Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower the Borrower, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Loan Agreement) result in the creation or imposition of any Lien upon any property of the Borrower or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither the execution and delivery of its Designation Letterthe Loan Documents and the Related Documents, the consummation of the transactions herein contemplated and nor compliance with the terms and provisions hereof will conflict with or result in a breach of, or require any consent which has not been obtained as of the Closing Date under, the respective charter or by-laws bylaws, partnership agreement, operating agreement or other organizational documents, as the case may be, of such Approved Borrower, the Borrower or any applicable law or regulationSubsidiary, or, in any material respect, any Governmental Requirement or any order, writ, injunction or decree of any Governmental Authority, or any material agreement or instrument to which such Approved the Borrower or any of its Subsidiaries Subsidiary is a party or by which any of them it is bound or to which any of them is it or its Properties are subject, or constitute a default under any such agreement or instrument, or result in the creation or imposition of any material Lien upon any of the revenues or assets of the Borrower or any Subsidiary pursuant to the terms of any such agreement or instrument other than the Liens created by the Loan Documents.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved the either Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower Borrower, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Warehouse Agreement) result in the creation or imposition of any Lien upon any property of either Borrower or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letterthe Program Documents, nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved BorrowerSeller, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower Seller, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the creation or imposition of any Lien upon any property of Seller or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved any Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved any Borrower or any of its Subsidiaries Affiliates is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of any Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letterthe Loan Documents, nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved Borrower, or any applicable law (including, without limitation, the Prescribed Laws), rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other agreement or instrument to which such Approved Borrower or any of its Subsidiaries Affiliates is a party or by which it or any of them its Property is bound or to which any of them it is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Agreement) upon any Property of Borrower pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letterthe Program Documents, or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved BorrowerSeller, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower Seller, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the creation or imposition of any Lien upon any property of Seller or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letterthe Program Documents, or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved Borrowerthe Seller, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower the Seller, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the creation or imposition of any Lien upon any property of the Seller or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letterthe Program Documents, nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved BorrowerSeller Party, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower or any of its Subsidiaries Seller Party is a party or by which any of them Seller Party or any Seller Party’s property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the creation or imposition of any Lien upon any property of any Seller Party, pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthis Agreement and the other Loan Documents, the consummation of the transactions herein and therein contemplated and or compliance with the terms and provisions hereof and thereof will conflict with or result in a breach of, or require any consent under, the charter or by-laws of such Approved BorrowerOperating Agreements, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authoritycourt or governmental authority or agency, or any agreement or instrument to which such Approved any Borrower or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such agreement or instrument, or (except for the Liens created pursuant to the Security Documents) result in the creation or imposition of any Lien upon any Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (i) the execution and delivery of its Designation Letterthis Agreement, nor (ii) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved BorrowerSeller, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower Seller, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the creation or imposition of any Lien upon any property of Seller or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthis Note and the Security Agreement, the consummation of the transactions herein and therein contemplated and or compliance with the terms and provisions hereof and thereof will conflict with or result in a breach of, or require any consent under, the charter or by-laws of such Approved Borrower, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authoritycourt or governmental authority or agency, or any agreement or instrument to which such Approved Borrower or any of its Subsidiaries is a party or by which any of them or any of their property is bound or to which any of them is subject, or constitute a default under any such agreement or instrument, or (except for the security interest created pursuant to the Security Agreement) result in the creation or imposition of any lien upon any property of the Borrower pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthis --------- Agreement, the Notes, and the other Loan Documents, the consummation of the transactions herein contemplated and or compliance with the terms and provisions hereof will conflict with or result in a breach of, or require any consent under, the charter articles of incorporation or by-laws bylaws of such Approved Borrowerthe Company, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authoritycourt or governmental authority or agency, or any agreement or instrument to which such Approved Borrower the Company or any of its Subsidiaries is a party or by which any of them it is bound or to which any of them it is subjectsubject that is material to the Company and its Subsidiaries, taken as a whole, or constitute a default under any such agreement or instrument, or result in the creation or imposition of any Lien upon any of the revenues or assets of the Company or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthe Loan Documents, the consummation of the transactions herein therein contemplated and or compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, the charter Organizational Documents of the Company or by-laws any of such Approved Borrowerits Subsidiaries, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authoritycourt or governmental authority or agency, or any Loan Document or other material agreement or instrument to which such Approved Borrower the Company or any of its Subsidiaries is a party or by which any of them it is bound or to which any of them it is subject, or constitute a default under any such material agreement or instrument, or result in the creation or imposition of any Lien upon any of the revenues or assets of the Company or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthe Loan Documents, the consummation of the transactions herein contemplated hereby and thereby contemplated, and compliance with the terms and provisions hereof and thereof will conflict with or result in a breach of, or require any consent under, the charter or by-laws of such Approved Borrowerthe Company, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authoritycourt or governmental authority or agency, or any agreement or instrument to which such Approved Borrower the Company or any of its Subsidiaries is a party or by which any of them is bound or to which any of them is subject, or constitute a default under any such agreement or instrument, or result in the creation or imposition of any Lien upon any of the revenues or assets of the Company or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved the Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved the Borrower or any of its Subsidiaries Affiliates is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of the Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthis Agreement and the Purchased Shares, the consummation of the transactions herein and therein contemplated and compliance with the terms and provisions hereof and thereof will conflict with or result in a breach of, or require any consent under, the charter or by-laws of such Approved Borrower, the Company or any applicable law or regulation, or any order, writ, injunction or decree of any court or Governmental Authority, or any agreement or instrument to which such Approved Borrower the Company or any of its Subsidiaries is a party or by which any of them is bound or to which any of them is subject, or constitute a default under any such agreement or instrument, which conflict, breach, failure to obtain consent or default would have a Material Adverse Effect.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws trust agreement of such Approved Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved Borrower or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved any Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved any Borrower or any of its their Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of any Borrower or any of their Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan>Documents or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved the Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower the Borrower, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Loan Agreement) result in the creation or imposition of any Lien upon any property of the Borrower or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of the The execution and delivery of its Designation Letterthe Credit Documents, the consummation of the transactions herein and therein contemplated and compliance with the terms and provisions hereof and thereof, will not conflict with or result in a breach of, or require any consent under, the charter or by-laws of such Approved Borrowerthe Company, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authoritycourt or governmental authority or agency, or any agreement or instrument to which such Approved Borrower the Company or any of its Subsidiaries is a party or by which any of them is bound or to which any of them is subject, or constitute a default under any such agreement or instrument, or result in the creation or imposition of any Lien upon any of the revenues or assets of the Company or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan --------- Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved the Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved the Borrower or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of the Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Transaction Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter articles of incorporation or by-laws of such Approved BorrowerSeller, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved Borrower Seller or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Agreement) upon any Property of Seller or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, of the certificate of incorporation or require any consent under, bylaws of the charter or by-laws of such Approved Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower the Borrower, or any of its Subsidiaries REO Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Loan Agreement) result in the creation or imposition of any Lien upon any property of the Borrower or any of its REO Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Facility Documents nor (b) the consummation of the transactions herein therein contemplated and to be entered into by Sellers in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws organizational documents of such Approved Borrowera Seller, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower a Seller or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to the Facility Documents) upon any Property of a Seller, or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letterthe Program Documents, or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved BorrowerSeller, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower Seller, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument., or (except for the Liens created pursuant to this Agreement) result in 40 the creation or imposition of any Lien upon any property of Seller or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument. (e)

No Breach. None of the execution and delivery of its Designation Letter, the consummation of Basic Documents or the transactions herein therein contemplated and or compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, the charter certificate of incorporation or by-laws of such Approved Borrowerthe Company or any of its Subsidiaries, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authoritycourt or governmental authority or agency, or any Basic Document or other material agreement or instrument to which such Approved Borrower the Company or any of its Subsidiaries is a party or by which any of them it is bound or to which any of them it is subject, or constitute a default under any such agreement or instrument, or (except for the Liens created pursuant to the Security Documents) result in the creation or imposition of any Lien upon any of the revenues or assets of the Company or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither the execution and delivery of its Designation Letter, the consummation of the transactions herein contemplated and Loan Documents nor compliance with the terms and provisions hereof will conflict with or result in a breach of, or require any consent which has not been obtained as of the Closing Date or which if not obtained would have a Material Adverse Effect under, the respective charter or by-laws of such Approved QSRD or any of its Subsidiaries, including the Borrower, or any applicable law or regulationmaterial Governmental Requirement, or any order, writ, injunction or decree of any Governmental Authority, or any agreement or instrument to which such Approved Borrower QSRD or any of its Subsidiaries Subsidiaries, including the Borrower, is a party or by which any of them it is bound or to which any of them is it or its Properties are subject, or constitute a default under any such agreement or instrument, or result in the creation or imposition of any Lien upon any of the revenues or assets of QSRD or any of its Subsidiaries, including the Borrower, pursuant to the terms of any such agreement or instrument other than the Liens created by the Loan Documents.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved Borrowerany Duck Entity, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower any Duck Entity, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Loan Agreement) result in the creation or imposition of any Lien upon any property of any Duck Entity or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved the Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved the Borrower or any of its Subsidiaries is are a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of the Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthis Agreement, the consummation of the transactions herein and therein contemplated and or compliance with the terms and provisions hereof and thereof will conflict with or result in a breach of, or require any consent (except for those which have been obtained) under, the charter or by-laws organizational documents of such Approved the Borrower, or any applicable law or regulation, or any order, writ, injunction or decree of any court or Governmental Authority, or any agreement or instrument to which such Approved the Borrower or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such agreement or instrument, or result in the creation or imposition of any Lien upon any Property of the Borrower pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved any Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved any Borrower or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of any Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws bylaws of such Approved the Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved Borrower the Borrower, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the creation or imposition of any Lien upon any property of the Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and to be entered into by the Borrower in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, of the organizational documents of the Borrower or require any consent under, the charter or by-laws of such Approved Borrowerits Subsidiaries, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any material agreement or instrument to which such Approved the Borrower or any of its Subsidiaries is a party or by which any of them it or its assets or properties is bound or to which any of them it is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to the Loan Documents) upon any assets or properties of the Borrower or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved each Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved each Borrower or any of its Subsidiaries Affiliates is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of each Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved the Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, including the Investment Company Act of 1940, or any Servicing Agreement or other material agreement or instrument to which such Approved the Borrower or any of its Subsidiaries is a party or by which the Borrower or any of them its Property is bound or to which any of them it is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of the Borrower pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthis Agreement, the consummation of the transactions herein contemplated and or compliance with the terms and provisions hereof will conflict with or result in a breach of, or require any consent under, the charter or by-laws of such Approved Borrowerthe Company, or any applicable law or regulationregulation in any material respect, or any order, writ, injunction or decree of any Governmental Authority, or any agreement or instrument in any material respect to which such Approved Borrower the Company or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such agreement or instrument, or result in the creation or imposition of any Lien upon any Property of the Company or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letterthe Program Documents, nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved BorrowerSeller or any of its Subsidiaries, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower or any of its Subsidiaries Seller is a party or by which any of them or any of their property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the creation or imposition of any Lien upon any property of Seller or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Program Documents or (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved Borrowerthe Seller, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any other material agreement or instrument to which such Approved Borrower the Seller, or any of its Subsidiaries Subsidiaries, is a party or by which any of them or any of their property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the creation or imposition of any Lien upon any property of the Seller or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument.

No Breach. None of the execution and delivery of its Designation Letterthis Agreement and the Notes and the other Basic Documents, the consummation of the transactions herein and therein contemplated and or compliance with the terms and provisions hereof and thereof will conflict with or result in a breach of, or require any consent under, the charter or by-laws bylaws of such Approved Borrowerthe Company, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authoritycourt or governmental authority or agency, or any agreement or instrument to which such Approved Borrower or any of its Subsidiaries the Company is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such agreement or instrument, or (except for the Liens created pursuant to the Security Documents) result in the creation or imposition of any Lien upon any Property of the Company pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the --------- Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved the Borrower, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved the Borrower or any of its Subsidiaries Affiliates is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of the Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither (a) the execution and delivery of its Designation Letter, the Loan Documents nor (b) the consummation of the transactions herein therein contemplated and in compliance with the terms and provisions hereof thereof will conflict with or result in a breach of, or require any consent under, of the charter or by-laws of such Approved Borrowerany Loan Party, or any applicable law law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or any Servicing Agreement or other material agreement or instrument to which such Approved Borrower any Loan Party or any of its Subsidiaries is a party or by which any of them or any of their Property is bound or to which any of them is subject, or constitute a default under any such material agreement or instrument or result in the creation or imposition of any Lien (except for the Liens created pursuant to this Loan Agreement) upon any Property of any Loan Party or any of its Subsidiaries pursuant to the terms of any such agreement or instrument.

No Breach. None of Neither the execution and delivery of its Designation Letterthe Loan Documents, the consummation of the transactions herein contemplated and nor compliance with the terms and provisions hereof will conflict with or result in a breach of, or require any consent which has not been obtained as of the Closing Date or which if not obtained would have a Material Adverse Effect under, the respective charter or by-laws of such Approved Borrowerthe Parent Company, the Borrower or any of its Subsidiaries, or any applicable law or regulation, or any order, writ, injunction or decree of any Governmental Authority, Requirement or any agreement or instrument to which such Approved the Parent Company, the Borrower or any of its Subsidiaries is a party or by which any of them it is bound or to which any of them is it or its Properties are subject, or constitute a default under any such agreement or instrument, or result in the creation or imposition of any Lien upon any of the revenues or assets of the Parent Company, the Borrower or any of its Subsidiaries pursuant to the terms of any such agreement or instrument other than the Liens created by the Loan Documents.