Common use of Authorization, Compliance with Law Clause in Contracts

Authorization, Compliance with Law. The execution, delivery and performance by the Titling Trust of any Related Document to which it is a party and the creation of ownership interests provided for herein: (i) have been duly authorized by all necessary statutory trust action, and (ii) do not violate any provision of any law or regulation of any Governmental Authority, or contractual or corporate restrictions, binding on the Titling Trust, except where such violations, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.