Common use of Authorization, Validity, Etc Clause in Contracts

Authorization, Validity, Etc. Each of the Borrower and its Subsidiaries has the corporate or equivalent power and authority to execute and deliver the Loan Documents to which it is a party, consummate the transactions contemplated therein to be consummated by it and perform its obligations thereunder, and all such action has been duly authorized by all necessary corporate or equivalent proceedings on its part. The Loan Documents to which the Borrower or any of its Subsidiaries is a party have been duly and validly executed and delivered by each of the Borrower and its Subsidiaries party thereto and constitute valid and legally binding agreements of the Borrower or such Subsidiary, as the case may be, enforceable in accordance with their respective terms, except as limited by Debtor Relief Laws.

Authorization, Validity, Etc. Each of the Revolving Borrower and its Subsidiaries has the corporate or equivalent power and authority to execute and deliver the Loan Documents to which it is a party, consummate the transactions contemplated therein to be consummated by it and perform its obligations thereunder, and all such action has been duly authorized by all necessary corporate or equivalent proceedings on its part. The Loan Documents to which the Borrower or any of its Subsidiaries it is a party have been duly and validly executed and delivered by each of the Revolving Borrower and its Subsidiaries party thereto and constitute valid and legally binding agreements of the Revolving Borrower or such Subsidiary, as the case may be, enforceable in accordance with their respective terms, except as limited by Debtor Relief Laws.