Common use of Effect on Borrower Clause in Contracts

Effect on Borrower. No authorization or approval or other action by, and no notice to or filing with, any Governmental Body which has not been obtained, given or made by Borrower is required for the due execution, delivery and performance by Borrower of any of the Loan Documents. No provision of any mortgage, indenture, contract or agreement to which Borrower is a party conflicts with, or requires any consent which has not already been obtained or is anticipated to be obtained as described above, or in any way would prevent the execution, delivery or performance of the terms of, any of the Loan Documents. Neither the execution, delivery, or carrying out of the terms of the Loan Documents will constitute a default under, or result in the creation or imposition of, or obligation to create, any Lien upon the Property of Borrower pursuant to the terms of any such mortgage, indenture, contract or agreement. Neither the execution and delivery by Borrower of the Loan Documents, nor the consummation of the transactions therein contemplated, nor compliance with the provisions thereof will violate any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on Borrower, except where such violation could not reasonably be expected to have a Material Adverse Effect.

Effect on Borrower. No authorization or approval or other action by, and no notice to or filing with, any Governmental Body which has not been obtained, given or made by Borrower is required for the due execution, delivery and performance by Borrower of any of the Loan Documents. No provision of any mortgage, indenture, contract or agreement to which Borrower is a party conflicts with, or requires any consent which has not already been obtained or is anticipated to be obtained as described above, or in any way would prevent the execution, delivery or performance of the terms of, any of the Loan Documents. Neither the execution, delivery, or carrying out of the terms of the Loan Documents will constitute a default under, or result in the creation or imposition of, or obligation to create, any Lien upon the Property of Borrower pursuant to the terms of any such mortgage, indenture, contract or agreement. Neither the execution and delivery deliver by Borrower of the Loan Documents, nor the consummation of the transactions therein contemplated, nor compliance with the provisions thereof will violate any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on Borrower, except where such violation could not reasonably be expected to have a Material Adverse Effect.