Common use of Proceedings of Assignor Clause in Contracts

Proceedings of Assignor. MLMCI shall have received a copy of the resolutions in form and substance satisfactory to MLMCI and its counsel, of Assignor authorizing (i) the execution, delivery and performance of the Loan Documents and the other documents to be executed and/or delivered by it pursuant hereto or thereto or in connection herewith or therewith, (ii) the borrowings contemplated hereunder and (iii) the granting by it of the security interest contemplated hereby, certified by a duly authorized officer of Assignor as of the Effective Date, which certificate shall state that the resolutions thereby certified have not been amended, modified, revoked or rescinded as of the date of such certificate.