Common use of Transactions Legal and Authorized Clause in Contracts

Transactions Legal and Authorized. This Agreement: (a) has been duly authorized by all necessary corporate action on the part of the Servicer, and does not and will not require any stockholder approval, or approval or consent of any trustee or holders of any indebtedness or obligations of the Servicer, except as has been obtained; (b) is within the corporate powers of the Servicer; and (c) is legal and will not conflict with, result in any material breach in any of the provisions of, constitute a default under, or result in the creation of any lien upon any property of the Servicer under the provisions of, any agreement, charter instrument, by-law or other instrument to which the Servicer is or will be a party or by which it or its property may be bound or result in the violation of any law, regulation, rule, order or judgment applicable to the Servicer or its properties, or any order to which the Servicer or its properties is subject, or of any government or governmental agency or authority.

Transactions Legal and Authorized. This The compliance by the Servicer with all of the provisions of this Servicing Agreement: (a) has have been duly authorized by all necessary corporate action on the part of the Servicer, and does not and will do not require any stockholder approval, or approval or consent of any trustee or holders of any indebtedness or obligations of the Servicer, Servicer except such as has have been duly obtained; (b) is are within the corporate powers of the Servicer; and (c) is and are legal and will not conflict with, result in any material breach in any of the provisions of, constitute a default under, or result in the creation of any lien Lien upon any property of the Servicer under the provisions of, any agreement, charter charter, instrument, by-law or other instrument to which the Servicer is or will be a party or by which it or its property may be bound or result in the violation of any law, regulation, rule, order or judgment applicable to the Servicer or its properties, or any order to which the Servicer or its properties is subject, of or of by any government or governmental agency or authority.