Obligations Authorized Sample Clauses
The "Obligations Authorized" clause defines which duties, responsibilities, or actions a party is formally permitted or required to undertake under the agreement. In practice, this clause clarifies the scope of what each party is allowed or expected to do, such as performing specific services, making payments, or accessing certain resources, as explicitly outlined in the contract. Its core function is to ensure that all parties understand the boundaries of their authorized actions, thereby preventing unauthorized activities and reducing the risk of disputes over what is permitted or required.
Obligations Authorized. The Board is authorized to issue its Bonds and Refunding Bonds under the authority of Chapter 28F of the Code, as amended, or as otherwise may be authorized by law from time to time for the purposes set forth in this Agreement. The Board also is authorized, in its discretion, to utilize existing reserves or other available funds to pay all or any portion of the costs associated with the financing or refinancing of the acquisition, construction or expansion of any such water facilities deemed necessary or appropriate, in lieu of issuing Bonds or Refunding Bonds for the same under this Agreement.
Obligations Authorized. The consummation of the transaction provided for in this Agreement and compliance by the Grantee with the provisions of this Agreement:
(i) are within its ▇▇▇▇▇▇, ▇▇▇▇ not violate its Organizational Documents and have been duly authorized by all necessary action on the part of the governing body of the Grantee; and
(ii) will not result in any breach of any of the terms, conditions or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrances upon any property or assets of the Grantee pursuant to, any indenture, Grant agreement or other instrument (other than this Agreement) or corporate restriction to which the Grantee is a party or by which the Grantee may be bound, nor will such action result in any violation of the provisions of laws, ordinances, governmental rules, regulations or court orders to which the Grantee or its properties or operations is subject.
Obligations Authorized. The consummation of the transaction provided for in this Contract and compliance by the Contractor with the provisions of this Contract:
(i) are within its powers and have been duly authorized by all necessary action on the part of the governing body of the Contractor; and
(ii) will not result in any breach of any of the terms, conditions or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrances upon any property or assets of the Contractor pursuant to, any indenture, Grant agreement, or other instrument (other than this Contract) or corporate restriction to which the Contractor is a party or by which the Contractor may be bound, nor will such action result in any violation of the provisions of laws, ordinances, governmental rules, regulations or court orders to which the Contractor or its properties or operations is subject; and
(iii) the Contractor has all necessary and eligible capital and financing to begin work on the Project upon the issuance of the Notice to Proceed by the Commission.