No Legal or Contractual Bar. This borrowing and the use of proceeds: (a) do not and will not violate any requirement of law or obligation of Borrower or permit the acceleration of any obligation of Borrower pursuant to any such obligation; and (b) do not and will not result in, or require, the creation of imposition of any lien on any of Borrower's properties or revenues pursuant to any such requirement of law or obligation other than the security interest granted to the Lender in the Collateral as set forth in the security provisions of the Note.
No Legal or Contractual Bar. Except as previously disclosed to the Investor, the execution, delivery and performance of this Agreement by the Company, the issuance of the Preferred Stock hereunder and the use of the proceeds thereof by the Company and the conversion of the Preferred Stock plus accrued dividends for shares of Conversion Stock under the circumstances provided for herein: (a) do not and will not violate any Requirement of Law or Contractual Obligation of the Company or permit the acceleration of any obligation of the Company pursuant to any such Contractual Obligation and (b) do not and will not result in, or require, the creation or imposition of any lien or encumbrance on any on the Company’s properties or revenues pursuant to any such Requirement of Law or Contractual Obligation.
No Legal or Contractual Bar. The execution, delivery and performance of the Facility Papers, the selling of Eligible Loans hereunder and the use of the proceeds thereof do not and will not (a) violate any Requirement of Law or any Contractual Obligation of the Seller, (b) except as contemplated by this Agreement, require any license, consent, authorization, approval or any other action by, or any notice to or filing or registration with, any Governmental Authority or any other Person or (c) result in the creation or imposition of any Lien on any asset of the Seller except as contemplated by the Facility Papers.
No Legal or Contractual Bar. The execution, delivery and performance of the Loan Documents, including the creation and perfection of the security interests contemplated hereunder and thereunder, the borrowings of Loans hereunder and the use of the proceeds thereof, do not and will not (a) violate any Requirement of Law or any Contractual Obligation of either Borrower or any of its Subsidiaries, (b) except as contemplated by this Agreement and the Security Agreement, require any license, consent, authorization, approval or any other action by, or any notice to or filing or registration with, any Governmental Authority or any other Person or (c) result in the creation or imposition of any Lien on any asset of either Borrower or any of its Subsidiaries except as contemplated by the Loan Documents.
No Legal or Contractual Bar. The execution, delivery and performance of the Loan Documents by the Borrower, the borrowings of Loans hereunder and the use of the proceeds thereof, do not and will not (i) violate any Requirement of Law applicable to or any Contractual Obligation of the Borrower, (ii) except as contemplated by this Agreement and the Warehouse Security Agreement, require any license, consent, authorization, approval or any other action by, or any notice to or filing or registration with, any Governmental Authority or any other Person, which licenses, consents, authorizations or approvals have not been previously obtained and remain in full force and effect, or (iii) result in the creation or imposition of any Lien on any asset of the Borrower, except as permitted or required by the Loan Documents.
No Legal or Contractual Bar. The execution, delivery and performance of the Loan Documents, including the creation and perfection of the security interests contemplated hereunder and thereunder, the borrowings of Loans hereunder and the use of the proceeds thereof, do not and will not (a) violate any Requirement of Law or any Contractual Obligation of either Borrower or any of its Subsidiaries, (b) except as contemplated by this Agreement and the Collateral Agreements, require any license, consent, authorization, approval or any other action by, or any notice to or filing or registration with, any Governmental Authority or any other Person or (c) result in the creation or imposition of any Lien on any asset of either Borrower or any of its Subsidiaries except as contemplated by the Loan Documents. Without limiting the scope of the preceding representation, no Take-Out Commitments assigned to the Secured Parties prohibit assignment thereof to the Secured Parties.
No Legal or Contractual Bar. The execution, delivery and performance of the Loan Documents, including the creation and perfection of the security interests contemplated hereunder and thereunder, the borrowings of Loans hereunder and the use of the proceeds thereof, do not and will not (a) violate any Requirement of Law or any Contractual Obligation of either Borrower or any of its Subsidiaries, (b) except as contemplated by this Agreement and the Security Agreements, require any license, consent, authorization, approval or any other action by, or any notice to or filing or registration with, any Governmental Authority or any other Person or (c) result in the creation or imposition of any Lien on any asset of either Borrower or any of its Subsidiaries except as contemplated by the Loan Documents. Without limiting the scope of the preceding representation, no Take-Out Commitments assigned to the Secured Parties prohibit assignment thereof to the Secured Parties. The parties acknowledge that as of the date hereof, GNMA's policies do not include the execution and delivery of an Acknowledgment Agreement by GNMA and no representation in any Loan Document as of the date hereof will be deemed to include a representation that the Borrowers may assign any rights under the GNMA Servicing Portfolio in contravention of GNMA's policies. Nothing contained in the preceding sentence shall affect the Borrowers covenant contained in Section 5.1(g).
No Legal or Contractual Bar. The execution, delivery and performance of the Loan Documents, including the creation and perfection of the security interests contemplated hereunder and thereunder, the borrowings of Loans hereunder and the use of the proceeds thereof, do not and will not (a) violate any Requirement of Law or any Contractual Obligation of either Borrower or any of its Subsidiaries,
No Legal or Contractual Bar. The execution, delivery and performance of this Agreement and the other Loan Documents, the borrowings hereunder and the use of the proceeds thereof will not violate any Requirement of Law or Contractual
No Legal or Contractual Bar. The execution, delivery and performance of this Agreement by the Company, the sale of the Convertible Notes, the issuance of the Conversion Shares upon conversion of the Convertible Notes and the use of the proceeds thereof by the Company: (a) do not and will not violate any Requirement of Law or Contractual Obligation of the Company or permit the acceleration of any obligation of the Company pursuant to any such Contractual Obligation and (b) do not and will not result in, or require, the creation or imposition of any lien or encumbrance on any of the Company’s properties or revenues pursuant to any such Requirement of Law or Contractual Obligation.
