Common use of Organizational Power; Authorization Clause in Contracts

Organizational Power; Authorization. The execution, delivery and performance by each Loan Party of the Loan Documents to which it is a party are within such Loan Party’s organizational powers and have been duly authorized by all necessary organizational, and if required, shareholder, partner or member, action. Each Loan Document to which a Loan Party is a party has been duly executed and delivered by the relevant Loan Party, and (together with all exhibits and schedules thereto) constitutes, and each other Loan Document to which any Loan Party is a party, when executed and delivered by such Loan Party, will constitute, valid and binding obligations of the Borrowers or such Loan Party (as the case may be), enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, receivership, moratorium, or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity.

Organizational Power; Authorization. The execution, delivery and performance by each Loan Party of the Loan Documents to which it is a party are within such Loan Party’s organizational powers and have been duly authorized by all necessary organizational, and if required, shareholder, partner or member, member action. Each Loan Document to which a Loan Party is a party This Agreement has been duly executed and delivered by the relevant Loan PartyBorrower, and, assuming the due execution and (together with all exhibits and schedules thereto) delivery by the Lenders, constitutes, and each other Loan Document to which any Loan Party is a party, when executed and delivered by such Loan Party, will will, assuming the due execution and delivery by the Lenders, constitute, valid and binding obligations of the Borrowers Borrower or such Loan Party (as the case may be), enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, receivership, moratorium, or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity.

Organizational Power; Authorization. The execution, delivery and performance by each Loan Party of the Loan Documents to which it is a party are within such Loan Party’s 's organizational powers and have been duly authorized by all necessary organizational, and if required, shareholder, partner or member, member action. Each Loan Document to which a Loan Party is a party This Agreement has been duly executed and delivered by the relevant Loan PartyBorrower, and, assuming the due execution and (together with all exhibits and schedules thereto) delivery by the Lenders, constitutes, and each other Loan Document to which any Loan Party is a party, when executed and delivered by such Loan Party, will will, assuming the due execution and delivery by the Lenders, constitute, valid and binding obligations of the Borrowers Borrower or such Loan Party (as the case may be), enforceable against it in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, receivership, moratorium, or similar laws affecting the enforcement of creditors’ ' rights generally and by general principles of equity.