Borrowing Authorization. The execution, delivery and performance by the Borrower of this Agreement and the other Loan Documents: (i) have been duly authorized by all requisite corporate action; (ii) do not and will not violate (A) any provision of any law, statute, rule or regulation, (B) any order, judgment or decree of any court, arbitrator or other agency of government, (C) the Articles of Incorporation or Code of Regulations or other organizational or governing documents of the Borrower, or (D) any provision of any agreement (including, without limitation, any agreement with stockholders) to which the Borrower or any Subsidiary is a party or subject, or by which it or any of its properties or assets are bound; (iii) do not and will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the properties or assets of the Borrower or any Subsidiary; and (iv) do not and will not require any consent, approval or other action by or any notice to or filing with any court or administrative or governmental body. This Agreement and the other Loan Documents have been duly executed and delivered on behalf of the Borrower and constitute the legal, valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with their respective terms.
Borrowing Authorization. The execution, delivery, and performance by the Borrower of this Agreement and the other Loan Documents: (i) have been duly authorized by all requisite trust action; (ii) do not and will not violate (A) any law, regulation, order, writ, judgment, decree, determination, or award currently in effect and applicable to the Borrower, (B) the Declaration of Trust or other organizational or governing documents of the Borrower or the Fund Statement or Prospectus, (C) any provision of any agreement to which the Borrower is a party, or by which it or any of its properties or assets is bound, and (D) any franchise, license, permit, certificate, authorization, qualification, accreditation, or other similar right, consent, or approval of or applicable to the Borrower; and (iii) do not and will not result in the creation or imposition of any Lien upon any of the properties or assets of the Borrower, except in favor of the Bank. No consents, licenses, permits, applications, or authorizations of, notices or reports to, or registrations, filings, or declarations with, any Governmental Authority or other third party are required to be obtained in connection with the execution, delivery, or performance by the Borrower of any of the Loan Documents.
Borrowing Authorization. The execution, delivery and performance by the Borrower of this Agreement and the other Loan Documents: (i) have been duly authorized by all requisite action; (ii) do not and will not violate (A) any law, regulation, order, writ, judgment, decree, determination or award currently in effect and applicable to the Borrower, (B) the articles of incorporation, declaration of trust or bylaws or other organizational or governing documents of the Borrower, (C) any provision of any agreement to which the Borrower is a party, or by which it or any of its properties or assets is bound, and (D) any franchise, license, permit, certificate, authorization, qualification, accreditation or other similar right, consent or approval of or applicable to the Borrower; and (iii) do not and will not result in the creation or imposition of any Lien upon any of the properties or assets of the Borrower. No consents, licenses, permits, applications or authorizations of, notices or reports to, or registrations, filings or declarations with, any Governmental Authority or other third party are required to be obtained in connection with the execution, delivery or performance by the Borrower of any of the Loan Documents.
Borrowing Authorization. The execution by the Company and the delivery and performance of this Agreement, the Note(s), and other documents connected to the loans described herein have been authorized by necessary corporate action and will not violate: 1) any provision of law; 2) the Articles of Incorporation or By-laws of the Company; or 3) any agreement binding on the Company.
Borrowing Authorization. All borrowings from the Money Pool shall be authorized by the borrowing Participating Company's Treasurer, or by a designee thereof. No Participating Company shall be required to effect a borrowing through the Money Pool if such Participating Company determines that it can (and is authorized to) effect such borrowing at a lower cost from another source. Section 1.6
Borrowing Authorization. Lender shall have received from Borrower a borrowing resolution or other proof of authority to enter into the transactions contemplated herein. The Borrower may request an increase or decrease in the amount of one or more Project Tranches after its initial funding in an amount not to exceed $250,000 per Project Tranche, as approved by the Lender; provided, however, any such increase shall not increase the amount of the overall Construction Loan and shall be subject to offsetting changes in the Construction Budgets for each such Project. Additionally, after giving effect to such increase or decrease, as applicable, the overall advances under the Construction Loan, plus any unfunded commitments under the Construction Loan shall not exceed the lesser of (A) 70% of the total as-stabilized aggregate appraised value of all the Projects, or (B) 80.0% of the total Project development costs of all the Projects, in the aggregate, as approved by Lender.
Borrowing Authorization. Receipt by Bank of a borrowing resolution from Borrower or other proof of authority to enter into the transactions contemplated herein. Deposit Account. Establishment by Borrower of a demand deposit account at Bank into which advance of the loan may be credited and from which monthly payments shall be automatically deducted in connection with the Loan. Additional Documents. Receipt by Bank of such additional supporting documents as Bank or its counsel may reasonably request.
Borrowing Authorization. The execution by the Company and the delivery and performance of this Agreement, the Consolidation Term Note, the Line of Credit Note, and such other notes as many evidence extensions of credit under this Agreement (hereafter collectively referred to as the "Notes"), and other documents (including, without limitation, the Security Agreements, hereafter collectively referred to as the "Loan Documents") executed in connection with the First Term Loan, the Second Term Loan, the Consolidation Term Loan, the Line of Credit or other extensions of credit under this Agreement (hereafter collectively referred to as the "Loans"), have been authorized by all necessary corporate action and will not violate: 1) any provision of law; 2) the Articles of Incorporation or By-laws of the Company; or 3) any agreement binding on the Company.
Borrowing Authorization. Bank shall have received from Borrower, each Mortgagor, and Guarantor, as applicable, a borrowing resolution or other proof of authority to enter into the transactions contemplated herein.
Borrowing Authorization. The execution by Borrower and the delivery and performance of this Agreement, the Note and other Loan Documents in connection with the borrowings hereunder (i) have been duly authorized by all requisite corporate action of Borrower and (ii) will not violate (A) any provision of law, (B) any order of any court or other agency of government, (C) the Articles of Incorporation or Regulations of Borrower, (D) any provision of any indenture, agreement or other instrument to which Borrower is a party, or by which it or any of its properties or assets are bound, which would have a material adverse effect on Borrower or its assets or business, and (iii) will not be in conflict with, result in a breach of or constitute (with due notice and/or lapse of time) a default under any such indenture, agreement, or other instrument, which would have a material adverse effect on Borrower or its assets or business, and (iv) will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the material properties or assets of Borrower (other than in favor of the Bank hereunder).
