Due Authorization; Validity. The Board of Directors of Borrowers have duly authorized the execution, delivery and performance of its Loan Papers. No consent of any shareholders of Borrowers is required as a prerequisite to the validity and enforceability of its Loan Papers. Borrowers have full legal right, power and authority to execute, deliver and perform under its Loan Papers. Such Loan Papers constitute the legal, valid and binding obligations of Borrowers, enforceable in accordance with their terms (subject as to enforcement of remedies to any applicable bankruptcy, reorganization, moratorium, or similar Laws or principles of equity affecting creditors' rights generally).
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Sources: Loan and Security Agreement (Marinemax Inc), Loan and Security Agreement (Marinemax Inc)
Due Authorization; Validity. The Board of Directors of Borrowers have Company has duly authorized the execution, delivery and performance of its Loan Papers. No consent of any shareholders of Borrowers Company is required as a prerequisite to the validity and enforceability of its Loan Papers. Borrowers have Company has full legal right, power and authority to execute, deliver and perform under its Loan Papers. Such Loan Papers constitute the legal, valid and binding obligations of BorrowersCompany, enforceable in accordance with their terms (subject as to enforcement of remedies to any applicable bankruptcy, reorganization, moratorium, or similar Laws or principles of equity affecting creditors' rights generally).
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