Organizational Power; Authorization. The execution, delivery and performance by the Borrower of each of the Loan Documents are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate, and if required, stockholder, action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document when executed and delivered by the Borrower will constitute, valid and binding obligations of the Borrower, enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors' rights generally and by general principles of equity.
Appears in 2 contracts
Samples: Subordinated Debt Loan Agreement (FNB United Corp.), Revolving Credit Agreement (FNB United Corp.)
Organizational Power; Authorization. The Borrowing, and the execution, delivery and performance by the Borrower of each of the Loan Documents are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate, and if required, stockholder, action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document when executed and delivered by the Borrower will constitute, valid and binding obligations of the Borrower, enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors' ’ rights generally and by general principles of equity.
Appears in 2 contracts
Samples: Credit Agreement (United Community Banks Inc), Credit Agreement (United Community Banks Inc)
Organizational Power; Authorization. The All Borrowings, and the execution, delivery and performance by the Borrower of each of the Loan Documents are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate, and if required, stockholder, action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document when executed and delivered by the Borrower will constitute, valid and binding obligations of the Borrower, enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors' ’ rights generally and by general principles of equity.
Appears in 2 contracts
Samples: Subordinated Term Loan Agreement (United Community Banks Inc), Subordinated Term Loan Agreement (Privatebancorp, Inc)
Organizational Power; Authorization. The execution, delivery and performance by the Borrower of each of the Loan Documents to which it is a party are within the Borrower’s corporate its organizational powers and have been duly authorized by all necessary corporateorganizational, and if required, stockholder, member action. This Agreement has been duly executed and delivered by the Borrower Borrower, and constitutes, and each other Loan Document to which Borrower is a party, when executed and delivered by the Borrower Borrower, will constitute, valid and binding obligations of the Borrower, enforceable enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors' ’ rights generally and by general principles of equity.
Appears in 1 contract
Organizational Power; Authorization. The Borrowing, and the execution, delivery and performance by the Borrower of each of the Loan Documents are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate, and if required, stockholder, action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document when executed and delivered by the Borrower will constitute, valid and binding obligations of the Borrower, enforceable en-forceable against it in accordance with their respective re-spective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors' ’ rights generally and by general principles of equity.
Appears in 1 contract
Samples: Subordinated Term Loan Agreement (Crescent Financial Corp)
Organizational Power; Authorization. The borrowing of Revolving Loans hereunder, and the execution, delivery and performance by the Borrower of each of the Loan Documents are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate, and if required, stockholder, action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document when executed and delivered by the Borrower will constitute, valid and binding obligations of the Borrower, enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors' ’ rights generally and by general principles of equity.
Appears in 1 contract
Organizational Power; Authorization. The All Borrowings, and the execution, delivery and performance by the Borrower of each of the Loan Documents are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate, and if required, stockholder, action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document when executed and delivered by the Borrower will constitute, valid and binding obligations of the Borrower, enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors' ’ rights generally and by general principles of equity. Section 4.3.
Appears in 1 contract
Samples: Term Loan Agreement