Loan Documents And Notes Authorized; Binding Obligations Clause Samples
This clause establishes that the parties involved have the authority to execute the loan documents and promissory notes, and that these documents constitute legally binding obligations. In practice, it confirms that the individuals signing on behalf of each party are properly authorized and that the agreements they sign are enforceable against their respective organizations. The core function of this clause is to ensure the validity and enforceability of the loan agreements, thereby reducing the risk of disputes over authority or binding effect.
Loan Documents And Notes Authorized; Binding Obligations. The execution, delivery and performance of this Agreement and each of the other Loan Documents to which any Borrower is a party and delivery and payment of such Borrower’s respective Notes have been duly authorized by all necessary and proper action on the part of such Borrower. The execution, delivery and performance of this Agreement and each of the other Loan Documents to which FSI is a party have been duly authorized by all necessary and proper corporate action on the part of FSI. The Loan Documents constitute legally valid and binding obligations of each Borrower and FSI, as the case may be, enforceable against each Borrower and FSI, to the extent any one of them is a party thereto, in accordance with their respective terms, except as enforcement thereof may be limited by bankruptcy, insolvency or other laws affecting the enforcement of creditors’ rights generally.
Loan Documents And Notes Authorized; Binding Obligations. The execution, delivery and performance of this Agreement and each of the other Loan Documents to which the Borrower or any of its Subsidiaries is a party and the execution, delivery and payment of the Notes have been duly authorized by all necessary and proper corporate action on the part of the Borrower or such Subsidiary, as the case may be. The Loan Documents to which the Borrower or any of its Subsidiaries a party constitute legally valid and binding obligations of the Borrower and such Subsidiaries enforceable against the Borrower and such Subsidiaries in accordance with their respective terms, except as enforcement thereof may be limited by bankruptcy, insolvency or other laws affecting the enforcement of creditors' rights generally.
Loan Documents And Notes Authorized; Binding Obligations. The execution, delivery and performance of this Agreement and each of the other Loan Documents to which it is a party and the execution, delivery and payment of the Notes have been duly authorized by all necessary and proper action on the part of the Borrower. The Loan Documents to which the Borrower is a party constitute legally valid and binding obligations of the Borrower enforceable against the Borrower in accordance with their respective terms, except as enforcement thereof may be limited by bankruptcy, insolvency or other laws affecting the enforcement of creditors' rights generally.
Loan Documents And Notes Authorized; Binding Obligations. The execution, delivery and performance of this Agreement, each of the Collateral Documents or the Holdings Collateral Documents to which it is a party, the Environmental Indemnity and each of the other Loan Documents to which it is a party and the execution, delivery and payment of the Notes have been duly authorized by all necessary and proper action on the part of each of the Borrowers. The Loan Documents to which either of the Borrowers is a party constitute legally valid and binding obligations of such Borrower enforceable against such Borrower in accordance with their respective terms, except as enforcement thereof may be limited by bankruptcy, insolvency or other laws affecting the enforcement of creditors' rights generally.
Loan Documents And Notes Authorized; Binding Obligations. The execution, delivery and performance of this Agreement and each of the other Loan Documents and delivery and payment of the Notes have been duly authorized by all necessary and proper action on the part of Borrower. The execution, delivery and performance of this Agreement and each of the other Loan Documents to which any other Loan Party is a party have been duly authorized by all necessary and proper corporate action on the part of such other Loan Party. The Loan Documents constitute legally valid and binding obligations of Borrower and the other Loan Parties as the case may be, enforceable against Borrower and each other Loan Party to the extent it is a party thereto, in accordance with their respective terms, except as enforcement thereof may be limited by bankruptcy, insolvency or other laws affecting the enforcement of creditors' rights generally.