Common use of Organization; Powers; Governmental Approvals Clause in Contracts

Organization; Powers; Governmental Approvals. (a) Each Loan Party and each Pledgor (1) is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (2) has all requisite power and authority to own its property and assets and to carry on its business as now conducted and (3) is qualified to do business in every jurisdiction where such qualification is required, except where the failure so to qualify would not have a Material Adverse Effect. Each Loan Party’s and each Pledgor’s execution, delivery and performance of the Loan Documents are within its corporate powers, have been duly authorized by all necessary action and do not violate or create a default under (i) Law, (ii) its constituent documents, or (iii) any contractual provision binding upon it, except to the extent (in the case of violations or defaults described under clauses (i) or (iii)) such violation or default would not reasonably be expected to result in a Material Adverse Effect and would not have an adverse effect on the validity, binding effect or enforceability of this Agreement or any other Loan Documents and would not materially adversely affect any of the rights of the Administrative Agent or any Lender under or in connection with this Agreement or any other Loan Documents. Each of the Loan Documents to which such Loan Party or Pledgor is a party constitutes the legal, valid and binding obligation of such Loan Party or Pledgor enforceable against it in accordance with its terms (except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and other laws affecting the rights of creditors generally and general principles of equity, including an implied covenant of good faith and fair dealing).

Organization; Powers; Governmental Approvals. (a) Each Loan Party The Borrower and each Pledgor Principal Subsidiary (1i) is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (2ii) has all requisite power and authority to own its property and assets and to carry on its business as now conducted and (3iii) is qualified to do business in every jurisdiction where such qualification is required, except where the failure so to qualify would not have a Material Adverse Effect. Each Loan Party’s and each PledgorThe Borrower’s execution, delivery and performance of the Loan Documents are within its corporate powers, have been duly authorized by all necessary action and do not violate or create a default under (iA) Lawapplicable law, (iiB) its constituent documents, or (iiiC) any contractual provision binding upon it, except to the extent (in the case of violations or defaults described under clauses (iA) or (iiiC)) such violation or default would not reasonably be expected to result in a Material Adverse Effect and would not have an adverse effect on the validity, binding effect or enforceability of this Agreement or any other Loan Documents and would not materially adversely affect any of the rights of the Administrative Agent or any Lender under or in connection with this Agreement or any other Loan Documents. Each of the Loan Documents to which such Loan Party or Pledgor is a party constitutes the legal, valid and binding obligation of such Loan Party or Pledgor the Borrower enforceable against it in accordance with its terms (except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and other laws affecting the rights of creditors generally and general principles of equity, including an implied covenant of good faith and fair dealing).

Organization; Powers; Governmental Approvals. (a) Each Loan Party The Borrower and each Pledgor Principal Subsidiary (1i) is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (2ii) has all requisite power and authority to own its property and assets and to carry on its business as now conducted and (3iii) is qualified to do business in every jurisdiction where such qualification is required, except where the failure so to qualify would not have a Material Adverse Effect. Each Loan Party’s and each PledgorThe Borrower’s execution, delivery and performance of the Loan Documents are within its corporate powers, have been duly authorized by all necessary action and do not violate or create a default under (iA) Lawlaw, (iiB) its constituent documents, or (iiiC) any contractual provision binding upon it, except to the extent (in the case of violations or defaults described under clauses (iA) or (iiiC)) such violation or default would not reasonably be expected to result in a Material Adverse Effect and would not have an adverse effect on the validity, binding effect or enforceability of this Agreement or any other Loan Documents and would not materially adversely affect any of the rights of the Administrative Agent or any Lender under or in connection with this Agreement or any other Loan Documents. Each of the Loan Documents to which such Loan Party or Pledgor is a party constitutes the legal, valid and binding obligation of such Loan Party or Pledgor the Borrower enforceable against it in accordance with its terms (except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and other laws affecting the rights of creditors generally and general principles of equity, including an implied covenant of good faith and fair dealing).

Organization; Powers; Governmental Approvals. (a) Each Loan Party The Borrower and each Pledgor Principal Subsidiary (1i) is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (2ii) has all requisite power and authority to own its property and assets and to carry on its business as now conducted and (3iii) is qualified to do business in every jurisdiction where such qualification is required, except where the failure so to qualify would not have a Material Adverse Effect. Each Loan Party’s and each Pledgor’s The Borrower's execution, delivery and performance of the Loan Documents are within its corporate powers, have been duly authorized by all necessary action and do not violate or create a default under (iA) Lawlaw, (iiB) its constituent documents, or (iiiC) any contractual provision binding upon it, except to the extent (in the case of violations or defaults described under clauses (iA) or (iiiC)) such violation or default would not reasonably be expected to result in a Material Adverse Effect and would not have an adverse effect on the validity, binding effect or enforceability of this Agreement or any other Loan Documents and would not materially adversely affect any of the rights of the Administrative Agent or any Lender under or in connection with this Agreement or any other Loan Documents. Each of the Loan Documents to which such Loan Party or Pledgor is a party constitutes the legal, valid and binding obligation of such Loan Party or Pledgor the Borrower enforceable against it in accordance with its terms (except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and other laws affecting the rights of creditors generally and general principles of equity, including an implied covenant of good faith and fair dealing).

Organization; Powers; Governmental Approvals. (aA) Each Loan Party The Borrower and each Pledgor Principal Subsidiary (1i) is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (2ii) has all requisite power and authority to own its property and assets and to carry on its business as now conducted and (3iii) is qualified to do business in every jurisdiction where such qualification is required, except where the failure so to qualify would not have a Material Adverse Effect. Each Loan Party’s and each Pledgor’s The Borrower's execution, delivery and performance of the Loan Documents are within its corporate powers, have been duly authorized by all necessary action and do not violate or create a default under (ia) Lawlaw, (iib) its constituent documents, or (iiic) any contractual provision binding upon it, except to the extent (in the case of violations or defaults described under clauses (ia) or (iiic)) where such violation or default would not reasonably be expected to result in a Material Adverse Effect and would not have an adverse effect on the validity, binding effect or enforceability of this Agreement or any other Loan Documents and would not materially adversely affect any of the rights of the Administrative Agent or any Lender under or in connection with this Agreement or any other Loan Documents. Each of the Loan Documents to which such Loan Party or Pledgor is a party constitutes the legal, valid and binding obligation of such Loan Party or Pledgor the Borrower enforceable against it in accordance with its terms (except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and other laws affecting the rights of creditors generally and general principles of equity, including an implied covenant of good faith and fair dealing).