Common use of Of the Advisor Clause in Contracts

Of the Advisor. To induce the Company to enter into this Agreement, the Advisor represents and warrants that: (i) The Advisor is a limited liability company, duly organized, validly existing and in good standing under the laws of the State of California with all requisite corporate power and authority and all material licenses, permits and authorizations necessary to carry out the transactions contemplated by this Agreement. (ii) The Advisor's execution, delivery and performance of this Agreement has been duly authorized by its general partner. This Agreement constitutes a valid and binding obligation of the Advisor, enforceable against the Advisor in accordance with its terms. The Advisor's execution and delivery of this Agreement and its fulfillment of and compliance with the respective terms hereof do not and will not (i) conflict with or result in a breach of the terms, conditions or provisions of, (ii) constitute a default under, (iii) result in the creation of any lien, security interest, charge or encumbrance upon the Advisor's assets pursuant to, (iv) give any third party the right to modify, terminate or accelerate any obligation under, (iii) result in a violation of or (vi) require any authorization, consent, approval, exemption or other action by or notice to any court or administrative or governmental body pursuant to, the Advisor's articles of incorporation or bylaws, or any law, statute, rule or regulation to which the Advisor is subject, or any agreement, instrument, order, judgment or decree by which the Advisor is bound, in any such case in a manner that would have a material adverse effect on the ability of the Advisor to perform any of its obligations under this Agreement.