Common use of Authorization, Validity, and Enforceability of this Agreement and the Loan Documents; No Conflicts Clause in Contracts

Authorization, Validity, and Enforceability of this Agreement and the Loan Documents; No Conflicts. Each such Person has the power and authority to execute, deliver, and perform this Agreement and the other Loan Documents to which it is a party, to incur the Obligations, and to grant to the Collateral Agent Liens upon the Collateral. Each such Person has taken all necessary action (including obtaining approval of its stockholders, partners, general partner(s), members, or other applicable equity owners, if necessary) to authorize its execution, delivery, and performance of this Agreement and the other Loan Documents to which it is a party. This Agreement and the other Loan Documents have been duly executed and delivered by each such Person, and constitute the legal, valid, and binding obligations of each such Person, enforceable against it in accordance with their respective terms without defense, set-off, or counterclaim, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws at the time in effect affecting the rights of creditors generally and to the effect of general principles of equity whether applied by a court of law or equity. The execution, delivery and performance of the Loan Documents do not and will not conflict with, or constitute a violation or breach of, or constitute (alone or with notice or lapse of time or both) a default under, or give rise to any right to accelerate or to require the prepayment, repurchase or redemption of any obligation under, or result in or require the creation or imposition of any Lien upon the property of Holdings or any Borrower by reason of the terms of (a) any contract, mortgage, Lien, lease, agreement, indenture, document, or instrument to which Holdings or any Borrower is a party or which is binding upon it the effect of which could reasonably be expected to have a Material Adverse Effect, (b) any Requirement of Law applicable to Holdings or such Borrower the effect of which could reasonably be expected to have a Material Adverse Effect, or (c) the certificate or articles of incorporation, by-laws, or other organizational or constituent documents, as the case may be, of Holdings or such Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (FLAG INTERMEDIATE HOLDINGS Corp), Loan and Security Agreement (Metals Usa Holdings Corp.)

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Authorization, Validity, and Enforceability of this Agreement and the Loan Documents; No Conflicts. Each such Person has the power and authority to execute, deliver, and perform this Agreement and the other Loan Documents to which it is a party, to incur the Obligations, and to grant to the Collateral Agent Liens upon the Collateral. Each such Person has taken all necessary action (including obtaining approval of its stockholders, partners, general partner(s), members, or other applicable equity owners, if necessary) to authorize its execution, delivery, and performance of this Agreement and the other Loan Documents to which it is a party. This Agreement and the other Loan Documents have been duly executed and delivered by each such Person, and constitute the legal, valid, and binding obligations of each such Person, enforceable against it in accordance with their respective terms without defense, set-off, or counterclaim, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws at the time in effect affecting the rights of creditors generally and to the effect of general principles of equity whether applied by a court of law or equity. The execution, delivery and performance of the Loan Documents Transactions do not and will not conflict with, or constitute a violation or breach of, or constitute (alone or with notice or lapse of time or both) a default under, or give rise to any right to accelerate or to require the prepayment, repurchase or redemption of any obligation under, or result in or require the creation or imposition of any Lien upon the property of Holdings or any Borrower by reason of the terms of (a) any contract, mortgage, Lien, lease, agreement, indenture, document, or instrument to which Holdings or any Borrower is a party or which is binding upon it the effect of which could reasonably be expected to have a Material Adverse Effect, (b) any Requirement of Law applicable to Holdings or such Borrower the effect of which could reasonably be expected to have a Material Adverse Effect, or (c) the certificate or articles of incorporation, by-laws, or other organizational or constituent documents, as the case may be, of Holdings or such Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Metals USA Plates & Shapes Southcentral, Inc.)

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Authorization, Validity, and Enforceability of this Agreement and the Loan Documents; No Conflicts. Each such Person Loan Party has the power and authority to execute, deliver, and perform this Agreement and the other Loan Documents to which it is a party, to incur the Obligations, and to grant to the Collateral Agent Liens upon the Collateral. Each such Person Loan Party has taken all necessary action (including obtaining approval of its stockholders, partners, general partner(s), members, or other applicable equity owners, if necessary) to authorize its execution, delivery, and performance of this Agreement and the other Loan Documents to which it is a party. This Agreement and the other Loan Documents have been duly executed and delivered by each such PersonLoan Party, and constitute the legal, valid, and binding obligations of each such PersonLoan Party, enforceable against it in accordance with their respective terms without defense, set-off, or counterclaim, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws at the time in effect affecting the rights of creditors generally and to the effect of general principles of equity whether applied by a court of law or equity. The execution, delivery and performance of the Loan Documents Transactions do not and will not conflict with, or constitute a violation or breach of, or constitute (alone or with notice or lapse of time or both) a default under, or give rise to any right to accelerate or to require the prepayment, repurchase or redemption of any obligation under, or result in or require the creation or imposition of any Lien upon the property of Holdings or any Borrower Loan Party by reason of the terms of (a) any contract, mortgage, Lien, lease, agreement, indenture, document, or instrument to which Holdings or any Borrower such Loan Party is a party or which is binding upon it the effect of which could reasonably be expected to have a Material Adverse Effectit, (b) any Requirement of Law applicable to Holdings or such Borrower the effect of which could reasonably be expected to have a Material Adverse EffectLoan Party, or (c) the certificate or articles of incorporation, by-by laws, or other organizational or constituent documents, as the case may be, of Holdings such Loan Party except, with respect to clauses (a) and (b), for such violation or such Borrowerbreach that could not, either individually, or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (EveryWare Global, Inc.)

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