Common use of Authority, No Conflicts, Etc Clause in Contracts

Authority, No Conflicts, Etc. The execution, delivery and ------------------------------- performance by each of FAC-Arkansas, FAC-Nevada, FCI, FMB, Vacation Break and the VB Originating Subsidiaries, as the case may be, of this Amendment and the consummation of the transactions contemplated hereby, (i) are within the corporate power of each respective party and have been duly authorized by all necessary corporate action on the part of each respective party, (ii) do not require any approval or consent of, or filing with, any governmental authority or other third party, and (iii) do not conflict with, constitute a breach or default under or result in the imposition of any lien or encumbrance pursuant to any agreement, instrument or other document to which any of such entity is a party or by which any such party or any of its properties are bound or affected.

Authority, No Conflicts, Etc. The execution, delivery and ------------------------------- performance by each of FCI, FAC-Arkansas, FAC-Nevada, FCI, FMB, Vacation Break and the VB Originating Subsidiaries, as the case may be, of this Amendment and the consummation of the transactions contemplated hereby, (i) are within the corporate power of each respective party and have been duly authorized by all necessary corporate action on the part of each respective party, (ii) do not require any approval or consent of, or filing with, any governmental authority or other third party, and (iii) do not conflict with, constitute a breach or default under or result in the imposition of any lien or encumbrance pursuant to any agreement, instrument or other document to which any of such entity is a party or by which any such party or any of its properties are bound or affected.

Authority, No Conflicts, Etc. The execution, delivery and ------------------------------- --------- -- --------- --- performance by each of FAC-Arkansas, FAC-Nevada, FCI, FMB, Vacation Break FCI and the VB Originating SubsidiariesSubsidiary Guarantors, as the case may be, of this Amendment and the Amended Note, and the consummation of the transactions contemplated herebyhereby and thereby, (i) are within the corporate power of each respective party and have been duly authorized by all necessary corporate action on the part of each respective party, (ii) do not require any approval or consent of, or filing with, any governmental authority or other third party, and (iii) do not conflict with, constitute a breach or default under or result in the imposition of any lien or encumbrance pursuant to any agreement, instrument or other document to which any of such entity is a party or by which any such party or any of its properties are bound or affected.

Authority, No Conflicts, Etc. The execution, delivery ----------------------------- and ------------------------------- performance by each of FAC-Arkansas, FAC-Nevada, FCI, FMB, Vacation Break FAC and the VB Originating Subsidiaries, as the case may be, Guarantors of this Amendment and the consummation of the transactions contemplated hereby, (i) are within the corporate power of each respective party of such parties and have been duly authorized by all necessary corporate action on the part of each respective partyof such parties, (ii) do not require any approval or consent of, or filing with, any governmental authority or other third party, party and (iii) do not conflict with, constitute a breach or default under or result in the imposition of any lien or encumbrance pursuant to any agreement, instrument or other document to which any of such entity is a party or by which any such party of them or any of its their properties are bound or affected.

Authority, No Conflicts, Etc. The execution, delivery -------------------------------- and ------------------------------- performance by each of FAC-Arkansas, FAC-Nevada, FCI, FMB, Vacation Break FCI and the VB Originating SubsidiariesSubsidiary Guarantors, as the case may be, of this Amendment and the consummation of the transactions contemplated hereby, hereby (i) are within the corporate power of each respective party and have been duly authorized by all necessary corporate action on the part of each respective party, (ii) do not require any approval or consent of, or filing with, any governmental authority or other third party, and (iii) do not conflict with, constitute a breach or default under or result in the imposition of any lien or encumbrance pursuant to any agreement, instrument or other document to which any of such entity is a party or by which any such party or any of its properties are bound or affected.

Authority, No Conflicts, Etc. The execution, delivery --------- -- --------- --- and ------------------------------- performance by each of FAC-Arkansas, FAC-Nevada, FCI, FMB, Vacation Break FAC and the VB Originating SubsidiariesGuarantors, as the case may be, of this Amendment Amendment, the First Massachusetts Assignment and Acceptance and the Replacement Notes, and the consummation of the transactions contemplated herebyhereby and thereby, (i) are within the corporate power of each respective party and have been duly authorized by all necessary corporate action on the part of each respective party, (ii) do not require any approval or consent of, or filing with, any governmental authority or other third party, and (iii) do not conflict with, constitute a breach or default under or result in the imposition of any lien or encumbrance pursuant to any agreement, instrument or other document to which any of such entity is a party or by which any such party or any of its properties are bound or affected.

Authority, No Conflicts, Etc. The execution, delivery and ------------------------------- --------- -- --------- --- performance by each of FAC-Arkansas, FAC-Nevada, FCI, FMB, Vacation Break FCI and the VB Originating Subsidiaries, as the case may be, FMB of this Amendment and the consummation of the transactions contemplated hereby, (i) are within the corporate power of each respective party of such parties and have been duly authorized by all necessary corporate action on the part of each respective partyof such parties, (ii) do not require any approval or consent of, or filing with, any governmental authority or other third party, and (iii) do not conflict with, constitute a breach or default under or result in the imposition of any lien or encumbrance pursuant to any agreement, instrument or other document to which any of such entity is a party or by which any such party of them or any of its their properties are bound or affected.