Common use of Authorization of Borrowing, No Conflict Clause in Contracts

Authorization of Borrowing, No Conflict. Each of the Borrowers has the power and authority to incur the Obligations and to grant security interests in the Collateral. On the Closing Date, the execution, delivery and performance of the Loan Documents by each Borrower signatory thereto will have been duly authorized by all necessary corporate and shareholder action. The execution, delivery and performance by each Borrower of each Loan Document to which it is a party and the consummation of the transactions contemplated thereby do not contravene any applicable law, the corporate charter or bylaws or other organizational documents of any Borrower or any material agreement or order by which any Borrower or any Borrower's property is bound. This Agreement and the other Loan Documents are the legal, valid and binding obligations of the applicable Borrowers respectively, each enforceable against the Borrowers, as applicable, in accordance with their respective terms.

Authorization of Borrowing, No Conflict. Each of the Borrowers Borrower has the corporate power and authority to incur the Obligations and to grant security interests in the Collateral. On the Closing Date, the execution, delivery and performance of the Loan Documents by each Borrower signatory thereto will have been duly authorized by all necessary corporate and shareholder action. The execution, delivery and performance by each Borrower of each Loan Document to which it is a party and the consummation of the transactions contemplated thereby by this Agreement and the other Loan Documents by Borrower do not contravene and will not be in contravention of any applicable law, the corporate charter or bylaws or other organizational documents of any Borrower or any material agreement or order by which any Borrower or any Borrower's property is bound. This Agreement is, and the other Loan Documents are Documents, including the legalRevolving Note[s], when executed and delivered will be, the legally valid and binding obligations of the applicable Borrowers respectivelyBorrower, each enforceable against the Borrowers, as applicable, Borrower in accordance with their respective terms.

Authorization of Borrowing, No Conflict. Each of the Borrowers Borrower has the power and authority to incur the Obligations Obligation and to grant security interests in the Collateral. On the Closing Date, the execution, delivery delivery, and performance of the Loan Documents by each Borrower signatory thereto will have been duly authorized by all necessary corporate and shareholder action. The execution, delivery delivery, and performance by each Borrower of each Loan Document to which it is a party and the consummation of the transactions contemplated thereby do not contravene any applicable lawLaw, the corporate charter or bylaws bylaws, or other organizational documents of any Borrower or any material agreement or order by which any Borrower Borrower, or any Borrower's property property, is bound. This Agreement and the other Loan Documents are the legal, valid valid, and binding obligations of the applicable Borrowers respectively, each enforceable against the Borrowers, as applicable, in accordance with their respective terms.