Common use of Authority; Compliance With Other Agreements and Instruments and Government Regulations Clause in Contracts

Authority; Compliance With Other Agreements and Instruments and Government Regulations. The execution, delivery and performance by Borrower and each Significant Subsidiary of the Loan Documents to which it is a Party have been duly authorized by all necessary corporate or partnership action, as applicable, and do not and will not: (a) Require any consent or approval not heretofore obtained of any partner, director, stockholder, security holder or creditor of such Party; (b) Violate or conflict with any provision of such Party's charter, articles of incorporation or bylaws, as applicable; (c) Result in or require the creation or imposition of any Lien or Right of Others upon or with respect to any Property now owned or leased or hereafter acquired by such Party; (d) Violate any Requirement of Law applicable to such Party, subject to obtaining the authorizations from, or filings with, the Governmental Agencies described in Schedule 4.3; (e) Result in a breach by such Party of or constitute a default by such Party under, or cause or permit the acceleration of any obligation owed under, any indenture or loan or credit agreement or any other Contractual Obligation to which such Party is a party or by which such Party or any of its Property is bound or affected where such breach, default or acceleration would (i) result in an obligation on behalf of Borrower or any Significant Subsidiary to make payments in an aggregate amount which exceeds $25,000,000 or (ii) otherwise result in a Material Adverse Effect; and none of Borrower or any Significant Subsidiary is in violation of, or default under, any Requirement of Law or Contractual Obligation, or any indenture, loan or credit agreement described in Section 4.2(e), in any respect that constitutes a Material Adverse Effect.

Appears in 3 contracts

Sources: Capital Markets Term Loan Agreement (Mandalay Resort Group), Term Loan Agreement (Mandalay Resort Group), Revolving Loan Agreement (Mandalay Resort Group)

Authority; Compliance With Other Agreements and Instruments and Government Regulations. The execution, delivery and performance by Borrower Parent and each Significant Subsidiary Borrower of the Loan Documents to which it is a Party have been duly authorized by all necessary corporate or partnership action, as applicable, and do not and will not: (a) Require any consent or approval not heretofore obtained of any partner, director, stockholder, security holder or creditor of such Party; (b) Violate or conflict with any provision of such Party's ’s charter, articles of incorporation or bylaws, as applicable; (c) Result in or require the creation or imposition of any Lien or Right of Others upon or with respect to any Property now owned or leased or hereafter acquired by such Party; (d) Violate any Requirement of Law applicable to such Party, subject to obtaining the authorizations from, or filings with, the Governmental Agencies Authorities described in Schedule 4.3; (e) Result in a breach by such Party of or constitute a default by such Party under, or cause or permit the acceleration of any obligation owed under, any indenture or loan or credit agreement or any other Contractual Obligation to which such Party is a party or by which such Party or any of its Property is bound or affected where such breach, default or acceleration would (i) result in an obligation on behalf of Borrower or any Significant Subsidiary to make payments in an aggregate amount which exceeds $25,000,000 or (ii) otherwise result in a Material Adverse Effectaffected; and none neither Parent, Borrowers nor any of Borrower or any the Significant Subsidiary Subsidiaries is in violation of, or default under, any Requirement of Law or Contractual Obligation, or any indenture, loan or credit agreement described in Section 4.2(e), in any respect that constitutes a Material Adverse Effect.

Appears in 2 contracts

Sources: Credit Agreement (Harrahs Entertainment Inc), Additional Credit Agreement (Harrahs Entertainment Inc)

Authority; Compliance With Other Agreements and Instruments and Government Regulations. The execution, delivery and performance by Borrower Parent and each Significant Subsidiary Borrower of the Loan Documents to which it is a Party have been duly authorized by all necessary corporate or partnership action, as applicable, and do not and will not: (a) Require any consent or approval not heretofore obtained of any partner, director, stockholder, security holder or creditor of such Party; (b) Violate or conflict with any provision of such Party's charter, articles of incorporation or bylaws, as applicable; (c) Result in or require the creation or imposition of any Lien or Right of Others upon or with respect to any Property now owned or leased or hereafter acquired by such Party; (d) Violate any Requirement of Law applicable to such Party, subject to obtaining the authorizations from, or filings with, the Governmental Agencies described in Schedule 4.3; (e) Result in a breach by such Party of or constitute a default by such Party under, or cause or permit the acceleration of any obligation owed under, any indenture or loan or credit agreement or any other Contractual Obligation to which such Party is a party or by which such Party or any of its Property is bound or affected where such breach, default or acceleration would (i) result in an obligation on behalf of Borrower or any Significant Subsidiary to make payments in an aggregate amount which exceeds $25,000,000 or (ii) otherwise result in a Material Adverse Effectaffected; and none neither Parent, Borrowers nor any of Borrower or any their Significant Subsidiary Subsidiaries is in violation of, or default under, any Requirement of Law or Contractual Obligation, or any indenture, loan or credit agreement described in Section 4.2(e), in any respect that constitutes a Material Adverse Effect.

Appears in 2 contracts

Sources: Loan Agreement (Harrahs Entertainment Inc), 364 Day Loan Agreement (Harrahs Entertainment Inc)

Authority; Compliance With Other Agreements and Instruments and Government Regulations. The execution, delivery and performance by Borrower and each Significant Subsidiary of the Loan Documents to which it is a Party have been duly authorized by all necessary corporate or partnership action, as applicable, and do not and will not: : (a) Require any consent or approval not heretofore hereto- fore obtained of any partner, director, stockholder, security holder or creditor of such Party; ; (b) Violate or conflict with any provision of such Party's charter, articles of incorporation or bylaws, as applicable; ; (c) Result in or require the creation or imposition of any Lien or Right of Others upon or with respect to any Property now owned or leased or hereafter acquired by such Party; ; (d) Violate any Requirement of Law applicable to such Party, subject to obtaining the authorizations from, or filings with, the Governmental Agencies described in Schedule 4.3; ; (e) Result in a breach by such Party of or constitute a default by such Party under, or cause or permit the acceleration of any obligation owed under, any indenture or loan or credit agreement or any other Contractual Obligation to which such Party is a party or by which such Party or any of its Property is bound or affected where such breach, default or acceleration would (i) result in an obligation on behalf of Borrower or any Significant Subsidiary to make payments in an aggregate amount which exceeds $25,000,000 or (ii) otherwise result in a Material Adverse Effect; and none of Borrower or any Significant Subsidiary is in violation of, or default under, any Requirement of Law or Contractual Obligation, or any indenture, loan or credit agreement described in Section 4.2(e), in any respect that constitutes a Material Adverse Effect.

Appears in 1 contract

Sources: Loan Agreement (Circus Circus Enterprises Inc)

Authority; Compliance With Other Agreements and Instruments and Government Regulations. The execution, delivery and performance by Borrower each of Borrowers and each Significant Subsidiary of the Guarantors of the Loan Documents to which it is a Party have been duly authorized by all necessary corporate or partnership action, as applicable, and do not and will not: (a) Require any consent or approval not heretofore obtained of any partner, director, stockholder, security holder or creditor of such Party; (b) Violate or conflict with any provision of such Party's charter, articles of incorporation or bylaws, as applicable; (c) Result in or require the creation or imposition of any Lien or Right of Others upon or with respect to any Property now owned or leased or hereafter acquired by such PartyParty (other than Liens and Rights of Others created by the Loan Documents); (d) Violate any Requirement of Law applicable to such Party, subject to obtaining the authorizations from, or filings with, the Governmental Agencies described in Schedule 4.3; (e) Result in a breach by such Party of or constitute a default by such Party under, or cause or permit the acceleration of any obligation owed under, any indenture or loan or credit agreement or any other Contractual Obligation (other than the Loan Documents) to which such Party is a party or by which such Party or any of its Property is bound or affected where such breach, default or acceleration would (i) result in an obligation on behalf of Borrower or any Significant Subsidiary to make payments in an aggregate amount which exceeds $25,000,000 or (ii) otherwise result in a Material Adverse Effectaffected; and none of Borrower Borrowers or any Significant Subsidiary of the Guarantors is in violation of, or default under, any Requirement of Law or Contractual Obligation, or including any indenture, loan or credit agreement Contractual Obligation described in Section 4.2(e), in any respect that constitutes a Material Adverse Effect.

Appears in 1 contract

Sources: Reducing Revolving and Term Loan Agreement (Station Casinos Inc)

Authority; Compliance With Other Agreements and Instruments and Government Regulations. The execution, delivery deliv- ery and performance by Borrower and each Significant Subsidiary of the Loan Documents to which it is a Party have been duly authorized by all necessary corporate or partnership action, as applicable, and do not and will not: : (a) Require any consent or approval not heretofore hereto- fore obtained of any partner, director, stockholder, security holder or creditor of such Party; ; (b) Violate or conflict with any provision of such Party's charter, articles of incorporation or bylaws, as applicable; ; (c) Result in or require the creation or imposition of any Lien or Right of Others upon or with respect to any Property now owned or leased or hereafter acquired by such Party; ; (d) Violate any Requirement of Law applicable to such Party, subject to obtaining the authorizations from, or filings with, the Governmental Agencies described in Schedule 4.3; ; (e) Result in a breach by such Party of or constitute a default by such Party under, or cause or permit the acceleration of any obligation owed under, any indenture or loan or credit agreement or any other Contractual Obligation to which such Party is a party or by which such Party or any of its Property is bound or affected where and such breach, default or acceleration would (i) not result in an obligation on behalf of Borrower or any Significant Subsidiary to make payments in an aggregate amount which exceeds exceed $25,000,000 or (ii) otherwise result in a Material Adverse Effect; and none of Borrower or any Significant Subsidiary is in violation viola- tion of, or default under, any Requirement of Law or Contractual Contract- ual Obligation, or any indenture, loan or credit agreement ▇▇▇▇ement described in Section 4.2(e), in any respect that constitutes a Material Adverse Effect.

Appears in 1 contract

Sources: Loan Agreement (Circus Circus Enterprises Inc)

Authority; Compliance With Other Agreements and Instruments and Government Regulations. The execution, delivery and performance by Borrower and each Significant Subsidiary ▇▇▇▇▇▇ of the Loan Operative Documents to which it is a Party party have been duly authorized by all necessary corporate or partnership action, as applicable, and do not and will not: (ai) Require any consent or approval not heretofore obtained of any partner, director, stockholder, security holder or creditor of such PartyLessee; (bii) Violate or conflict with any provision of such Party▇▇▇▇▇▇'s charter, articles of incorporation or bylaws, as applicable; (ciii) Result in or require the creation or imposition of any Lien or Right of Others upon or with respect to any Property property now owned or leased or hereafter acquired by such PartyLessee; (div) Violate any Requirement of Law applicable to such PartyLessee, subject to obtaining the authorizations from, or filings with, the Governmental Agencies described in Schedule 4.3SCHEDULE VII; (ev) Result in a breach by such Party Lessee of or constitute a default by such Party Lessee under, or cause or permit the acceleration of any obligation owed under, any indenture or loan or credit agreement or any other Contractual Obligation to which such Party Lessee is a party or by which such Party Lessee or any of its Property property is bound or affected where such breach, default or acceleration would (iA) result in an obligation on behalf of Borrower or any Significant Subsidiary Lessee to make payments in an aggregate amount which exceeds $25,000,000 or (iiB) otherwise result in a Material Adverse Effect; and none of Borrower or any Significant Subsidiary Lessee is not in violation of, or default under, any Requirement of Law or Contractual Obligation, or any indenture, loan or credit agreement described in Section 4.2(eCLAUSE (v), in any respect that constitutes a Material Adverse Effect.

Appears in 1 contract

Sources: Lease Intended as Security (Circus Circus Enterprises Inc)