Common use of Corporate Power Clause in Contracts

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Underlying Documents to which it is a party and to maintain the relevant Ship in its ownership under the applicable Approved Flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it the Borrower is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Underlying Documents to which it is a party and to maintain the Ship in its ownership under the applicable Approved Flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Underlying Documents to which it is a party and to register the Ship in its name under an Approved Flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to register permanently the Ship owned by it in its name under the Approved Flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those this Agreement and the other Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the each Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Shipbuilding Contract, to purchase and pay for the Ship under the Shipbuilding Contract and register the Ship in its name under the Approved Flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Borrower (or, in the case of paragraph (a), each Owner) has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to own and register the Ship owned by it in its name under the Approved Flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it the Borrower is a partyparty and the Master Agreement; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyparty and the Master Agreement.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement Agreements and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower is a partyParty.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all official consents necessary for it: (a) to execute this Agreement and the Finance Documents to which it is a party; andSecurity Documents; (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents this Agreement; and (c) to which make all payments contemplated by, and to comply with, the Borrower is a partyDocuments.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Underlying Documents to which it is a party; (b) to execute the Finance Documents to which it is a party; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the each Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to enter into each Underlying Document, to purchase and pay for the relevant Ship under the relevant MOA and register that Ship in its name under an Approved Flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow an Advance under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to own its Ship and register it in its name under the relevant Approved Flag; (b) to execute the Finance Documents and any Approved Charter to which it is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents and the Transaction Documents to which it the Borrower is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the that Borrower is a partyParty. (c) to authorise the registration of its Ship under the Approved Flag.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it the Borrower is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Novation Agreement and the Transfer Agreement, to purchase and pay for the Ship under the Shipbuilding Contract and the Transfer Agreement and register the Ship in its name under an Approved Flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower is a partyParty. (c) to authorise the registration of the Ship under the Approved Flag.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to carry out its business carried on or to be carried on by it and own its assets owned or to be owned by it; (b) to register permanently the Ship owned by it in its name under an Approved Flag; (c) to execute the Finance Documents to which it that Borrower is a party; and (bd) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a partythis Agreement; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partythis Agreement.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for itit to: (a) continue to own the Ship owned by it under the relevant Approved Flag; (b) execute the Finance Documents to which it that ▇▇▇▇▇▇▇▇ is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to maintain the registration of its Ship in its ownership under the ▇▇▇▇▇▇▇▇ Islands flag; (b) to execute the Finance Documents to which it that Borrower is a partyparty and the Master Agreements; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement Agreements and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is Borrowers are a party.party and the Master Agreements..

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Underlying Documents to which it is a party and to maintain its Ship in its ownership under the applicable Approved Flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Borrower (or, in the case of paragraph (a), the Owner) has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to own and register the Ship in its name on the Greek flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to purchase and pay for its Ship and register its Ship in its name under an Approved Flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to enter into each Underlying Document and register its Ship in its name under an Approved flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow each Tranche under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Shipbuilding Contract to which it is a party, to purchase and pay for the relevant Ship under the relevant Shipbuilding Contract and register such Ship in its name under the Approved Flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to purchase and own the Ocean Rig Shares; (b) to execute the Finance Documents to which it is a party; and (bc) to borrow and grant any indemnities under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower Borrower, has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a partyparty and the Master Agreements; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement Agreements and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Underlying Documents which it is a party and to maintain its Ship registered in its ownership under the applicable Approved Flag; (b) to execute the Finance Documents to which it is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement Agreements and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the that Borrower is a partyParty. (c) to authorise the registration of its Ship under the Approved Flag.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to register its Ship in its name under an Approved Flag; (b) to execute the Finance Documents to which it is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it the Borrower is a party; and; (b) to borrow under this Agreement, Agreement to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower is a partyparty and the Master Agreement; and (c) to register the Ship in its ownership under the ▇▇▇▇▇▇▇▇ Islands Flag.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to enter into, and perform its obligations under, any Charterparty (including, without limitation, the applicable Tesoro Charter) to which it is or, as the case may be, is to become a party; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the a Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Borrower (or, in the case of paragraph (a), the Owner) has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to own and register the Ship in its ownership on the Greek flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a partyParty; and (b) to borrow under this Agreement, to enter into Designated Transactions under the each Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower (or, in the case of paragraph (a), each Owner) has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to own and register the Ship owned by it in its name on the Greek flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Shipbuilding Contract and any addenda thereto; (b) to purchase and pay for the Ship and register the Ship in its name under an Approved Flag; (c) to execute the Finance Documents to which it the Borrower is a party; and (bd) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents Authorisations necessary for it: (a) to own and register its Ship in its name under the Approved Flag; (b) to execute the Finance Documents to which it that Borrower is a partyparty and the Master Agreements; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the each Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the that Borrower is a partyparty and each Master Agreement.

Corporate Power. The Each Borrower has the corporate limited liability company capacity, and has taken all corporate limited liability company action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it that Borrower is a partyparty and any Assignable Charter; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to register the Ship in its name under the Approved Flag; (b) to execute the Finance Documents to which it such Borrower is a party; and; (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and ; and (d) to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Underlying Documents to which it is a party and to register its Ship in its ownership under the applicable Approved Flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to permanently register the Ship owned by it in its name under an Approved Flag; (b) to execute the Finance Documents to which it each Borrower is a party; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the each Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower Each of the Borrowers has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it the Borrower is a partyparty and the Master Agreements; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement Agreements and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyparty and the Master Agreements.

Corporate Power. The Borrower Each Borrower, has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to register its Ship in its name under the relevant flag; (b) to execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a partyparty and the Master Agreement.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all official consents necessary for it: (a) to execute the Finance Documents to which it the Borrower is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Borrower has (and in the case of paragraph (a) procures that each Owner has) the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Shipbuilding Contract to which it is a party and to purchase and pay for its Ship under such Shipbuilding Contract; (b) to execute the Finance Documents to which it is a party; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyDocuments.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to purchase and pay for the Ship and register its Ship in its name under an Approved Flag; (b) to execute the Finance Documents to which it is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Each Borrower has the corporate limited liability company capacity, and has taken all corporate limited liability company action and obtained all consents necessary for it: (a) to execute the Finance Documents and the Existing Charter to which it that Borrower is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a partyparty and the Shares Purchase Agreement; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it the Borrower is a partyparty and the Master Agreements; and (b) to borrow under this Agreement, to enter into Designated Transactions Transaction under the Master Agreement Agreements and to make all the payments contemplated by, and to comply with, those Finance Documents to which and the Borrower is a partyMaster Agreements.

Corporate Power. The the Borrower (or in the case of paragraph (a), each Owner) has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute execute, enter into, and perform its obligations under the Finance Transaction Documents to which it is or is to be a partyparty and (in the case of each Owner) register the relevant Ship in its name under a Flag State; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Transaction Documents to which the Borrower is a party.

Corporate Power. The Borrower Each of the Borrowers has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) (save for the Holding Company) to execute the Shipbuilding Contract to which it is a party and to purchase and pay for the Ship under the Shipbuilding Contract to which it is a party; (b) to execute the Finance Documents to which it is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower is a partyParty. (c) to authorise the registration of the Ship under the Approved Flag.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Shipbuilding Contracts and the Finance Documents to which it the Borrower is a party; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the each Borrower is a partyParty.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to register permanently the Ship owned by it in its name under the Approved Flag; (b) to execute the Finance Documents to which it that ▇▇▇▇▇▇▇▇ is a party; and (bc) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a party; and (b) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower is a partyParty.

Corporate Power. The Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to purchase, and own the Ocean Rig Shares; (b) to execute the Finance Documents to which it is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those the Finance Documents to which the Borrower is a party.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Assignable Charter documentation to which it is a party and to maintain its Ship in its ownership under the applicable Approved Flag; (b) to execute the Finance Documents to which it that ▇▇▇▇▇▇▇▇ is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Borrower (or in the case of paragraph (a), the Owners) has the corporate capacity, and has taken all corporate action and obtained all consents necessary for it: (a) to execute the Finance Documents to which it is a partyparty and the Master Agreement; and (b) to borrow under this Agreement, to enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a partyparty and the Master Agreement.

Corporate Power. The Each Borrower has the corporate capacity, and has taken all corporate action and obtained all consents necessary for itit to: (a) continue to own the Ship owned by it under the relevant Approved Flag; (b) execute the Finance Documents to which it that Borrower is a party; and (bc) to borrow under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the that Borrower is a party.

Corporate Power. The Borrower has the corporate capacity, capacity and has taken all corporate action and obtained all consents necessary for it: (a) to register the Ship in its name under an Approved Flag; (b) to execute the Finance Documents to which it the Borrower is a party; and (bc) to borrow the Loan under this Agreement, enter into Designated Transactions under the Master Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower it is a party.