Marketable Title; Legality Clause Samples

Marketable Title; Legality. The Borrower has valid, legal and marketable title to all of the Shares and other assets pledged as collateral pursuant to the Pledge Agreement, free and clear of any liens, other than a pledge to the Lender of such assets pursuant to the Pledge Agreement. Neither the execution and delivery of the Loan Documents nor the performance of any obligation thereunder violates any provision of law or conflicts with or results in a breach of or creates (with or without the giving of notice or lapse of time, or both) a default under any agreement to which the Borrower is a party or by which it is bound or any of its properties is affected. No consent of any federal, state or local governmental authority, agency or other regulatory body, the absence of which could have a materially adverse effect on the Borrower or the Trustee, is or was required to be obtained in connection with the execution, delivery or performance of the Loan Documents and the transactions contemplated therein or in connection therewith, including, without limitation, with respect to the transfer of the Shares purchased with the proceeds of the Loan pursuant thereto.