Execution and Performance. The Loan Documents have been duly authorized by all necessary action, duly executed and delivered, and constitute the valid and legally binding obligations of Borrower, enforceable against Borrower in accordance with their respective terms. Borrower has and will continue to have during the Loan Term all requisite power and authority to perform its obligations under the Loan Documents.
Appears in 2 contracts
Sources: Loan, Security and Pledge Agreement (Federal-Mogul Corp), Stock Option Agreement (Icahn Carl C)
Execution and Performance. The Loan Documents have been duly authorized by all necessary action, duly executed and delivered, and constitute the valid and legally binding obligations of Borrower, enforceable against Borrower in accordance with their respective terms. Borrower has and will continue to have during the Loan Term all requisite power and authority to perform its obligations under the Loan Documents.their
Appears in 1 contract
Sources: Loan, Security and Pledge Agreement (Federal-Mogul Corp)