Common use of Organizational and Authorization Document Clause in Contracts

Organizational and Authorization Document. Copies of (i) the Articles of Organization (Certificate of Formation) and Operating Agreement of the Borrower; (ii) resolutions of the members/ managers of the Borrower approving and authorizing such Person’s execution, delivery and performance of the Loan Documents to which it is party and the transactions contemplated thereby; (iii) signature and incumbency certificates of the members / managers of the Borrower, executing any of the Loan Documents, each of which the Borrower hereby certifies to be true and complete, and in full force and effect without modification, it being understood that the Bank may conclusively rely on each such document and certificate until formally advised by the Borrower of any changes therein; and (iv) good standing certificates in the state of formation of the Borrower and in each other state requested by the Bank.

Organizational and Authorization Document. Copies of (i) the Articles of Incorporation or Articles of Organization (Certificate of Formation) and Bylaws or Operating Agreement of the each Borrower; (ii) resolutions of the members/ managers board of directors or the members of each Borrower approving and authorizing such Person’s execution, delivery and performance of the Loan Documents to which it is party and the transactions contemplated thereby; (iii) signature and incumbency certificates of the members / managers officers of the Borrower, each Borrower executing any of the Loan Documents, each of which the respective Borrower hereby certifies to be true and complete, and in full force and effect without modification, it being understood that the Bank Lender may conclusively rely on each such document and certificate until formally advised by the each Borrower of any changes therein; and (iv) good standing certificates in the state of formation incorporation or organization of the each Borrower and in each other state requested by the BankLender.