Common use of Authorization, Validity, Etc Clause in Contracts

Authorization, Validity, Etc. The Borrower has the power and authority to make, execute, deliver and carry out the International Loan Documents to which it is a party and the transactions contemplated therein and to perform its obligations thereunder and all such action has been duly authorized by all necessary proceedings on its part. The International Loan Documents have been duly and validly executed and delivered by the Borrower and the Guarantors and constitute valid and legally binding agreements of the Borrower and the Guarantors enforceable in accordance with their respective terms, except as limited by Debtor Laws. The Liens created by the International Security Documents will constitute valid and perfected Liens on the International Collateral described therein subject in priority to no other Liens whatsoever. The liens created by the International Security Documents will constitute valid and perfected Liens on the Domestic Collateral, subject in priority to no other Liens whatsoever, other than Permitted Liens and Liens securing the Domestic Obligations.

Authorization, Validity, Etc. The Borrower Each of the Borrowers has the power and authority to make, execute, deliver and carry out the International Loan Documents to which it is a party and the transactions contemplated therein and to perform its obligations thereunder and all such action has been duly authorized by all necessary proceedings on its part. The International Loan Documents have been duly and validly executed and delivered by the Borrower Borrowers and the Guarantors any Guarantor and constitute valid and legally binding agreements of the Borrower Borrowers and the Guarantors any Guarantor enforceable in accordance with their respective terms, except as limited by Debtor Laws. The Liens created by the International Security Documents will constitute valid and perfected Liens on the International Collateral described therein subject in priority to no other Liens whatsoever. The liens Liens created by the International Security Documents will constitute valid and perfected Liens on the Domestic Collateral, subject in priority to no other Liens whatsoever, other than Permitted Liens and Liens securing the Domestic Obligations.