Common use of Due Authorization; No Legal Restrictions Clause in Contracts

Due Authorization; No Legal Restrictions. The execution and delivery by Borrower of this Agreement, the consummation of the transactions contemplated hereby and the fulfillment and compliance with the terms, conditions and provisions of this Agreement: (i) have been duly authorized by all requisite corporate action of Borrower; (ii) will not conflict with or result in a breach of, or constitute a default (or might, upon the passage of time or the giving of notice or both, constitute a default) under, any of the terms, conditions or provisions of any applicable statue, law, rule, regulation or ordinance, or Borrower’s organizational documents or any indenture, mortgage, loan, credit agreement or instrument to which Borrower is a party or by which Borrower may be bound or affected, or any judgement or order of any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign; and (iii) will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the property or assets of Borrower under the terms or provisions of any such agreement or instrument, except liens in favor of Lender.

Appears in 27 contracts

Samples: Secured Loan Agreement (Tanzanian Gold Corp), Secured Loan Agreement (Tanzanian Gold Corp), Secured Loan Agreement (Tanzanian Gold Corp)

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Due Authorization; No Legal Restrictions. The execution and delivery by Borrower the Credit Parties of this Agreementthe Loan Documents, the consummation of the transactions contemplated hereby by the Loan Documents and the fulfillment and compliance with the respective terms, conditions and provisions of this Agreementthe Loan Documents: (ia) have been duly authorized by all requisite corporate action of Borrower; partnership or trust action, as the case may be, by the Credit Parties, (iib) will not conflict with or result in a breach of, or constitute a default (or might, upon the passage of time or the giving of notice or both, constitute a default) under, any of the terms, conditions or provisions of (i) any applicable statuestatute, law, rule, regulation or ordinance, or (ii) Borrower’s organizational Limited Partnership Agreement or Certificate of Limited Partnership, (iii) the Trust’s Trust Indenture or Bylaws or the charter and constituent documents or of any other Guarantor, (iv) any indenture, mortgage, loan, loan or credit agreement or instrument to which Borrower any of the Credit Parties is a party or by which Borrower it may be bound or affected, or (v) any judgement judgment or order of any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign; , and (iiic) will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the property or assets of Borrower the Credit Parties under the terms or provisions of any such agreement or instrument, except liens in favor of LenderAgent.

Appears in 3 contracts

Samples: Revolving Credit Loan Agreement (Hersha Hospitality Trust), Revolving Credit Loan and Security Agreement (Hersha Hospitality Trust), Revolving Credit Loan and Security Agreement (Hersha Hospitality Trust)

Due Authorization; No Legal Restrictions. The execution and delivery by Borrower of this Agreementthe Loan Documents, the consummation of the transactions contemplated hereby by the Loan Documents and the fulfillment and compliance with the respective terms, conditions and provisions of this Agreementthe Loan Documents: (ia) have been duly authorized by all requisite corporate action of Borrower; , (iib) will not conflict with or result in a breach of, or constitute a default (or might, upon the passage of time or the giving of notice or both, constitute a default) under, any of the terms, conditions or provisions of any applicable statuestatute, law, rule, regulation or ordinance, or Borrower’s 's organizational documents or any indenture, mortgage, loan, credit agreement or other document or instrument to which Borrower is a party or by which Borrower may be bound or affected, or any judgement judgment or order of any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign; , and (iiic) will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the property or assets of Borrower under the terms or provisions of any such agreement or instrument, except liens in favor of Lender.

Appears in 1 contract

Samples: Senior Subordinated Convertible Loan and Security Agreement (Blonder Tongue Laboratories Inc)

Due Authorization; No Legal Restrictions. The execution and delivery by Borrower of this Agreementthe Loan Documents, the consummation of the transactions contemplated hereby by the Loan Documents and the fulfillment and compliance with the respective terms, conditions and provisions of this Agreementthe Loan Documents: (ia) have been duly authorized by all requisite corporate action of Borrower; , (iib) will not conflict with or result in a breach of, or constitute a default (or might, upon the passage of time or the giving of notice or both, constitute a default) under, any of the terms, conditions or provisions of any applicable statuestatute, law, rule, regulation or ordinance, or Borrower’s organizational documents or any indenture, mortgage, loan, credit agreement or other document or instrument to which Borrower is a party or by which Borrower may be bound or affected, or any judgement judgment or order of any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign; , and (iiic) will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the property or assets of Borrower under the terms or provisions of any such agreement or instrument, except liens in favor of LenderLender Parties.

Appears in 1 contract

Samples: Loan and Security Agreement (Blonder Tongue Laboratories Inc)

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Due Authorization; No Legal Restrictions. The execution and delivery by Borrower of this Agreement, the consummation of the transactions contemplated hereby and the fulfillment and compliance with the terms, conditions and provisions of this AgreementAgreement : (i) have been duly authorized by all requisite corporate action of BorrowerBorrower ; (ii) will not conflict with or result in a breach of, or constitute a default (or might, upon the passage of time or the giving of notice or both, constitute a default) under, any of the terms, conditions or provisions of any applicable statuestatute, law, rule, regulation or ordinance, ordinance or Borrower’s 's organizational documents or any indenture, mortgage, loan, credit agreement or instrument to which Borrower is a party or by which Borrower may be bound or affected, or any judgement judgment or order of any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreignforeign ; and (iii) will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the property or assets of Borrower under the terms or provisions of any such agreement or instrument, instrument except liens in favor of Lender.Lender . (d)

Appears in 1 contract

Samples: Secured Gold Loan Agreement (Almaden Minerals LTD)

Due Authorization; No Legal Restrictions. The execution and delivery by Borrower of this Agreement, the consummation of the transactions contemplated hereby and the fulfillment and compliance with the terms, conditions and provisions of this Agreement: (i) have been duly duty authorized by all requisite corporate action of Borrower; (ii) will not conflict with or result in a breach of, or constitute a default (or might, upon the passage of time or the giving of notice or both, constitute a default) under, any of the terms, conditions or provisions of any applicable statuestatute, law, rule, regulation or ordinance, ordinance or Borrower’s organizational documents or any indenture, mortgage, loan, credit agreement or instrument to which Borrower is a party or by which Borrower may be bound or affected, or any judgement judgment or order of any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign; and (iii) will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the property or assets of Borrower under the terms or provisions of any such agreement or instrument, instrument except liens in favor of Lender.

Appears in 1 contract

Samples: Secured Gold Loan Agreement (Tanzanian Gold Corp)

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