Common use of Due Authorization; No Default Clause in Contracts

Due Authorization; No Default. (a) The execution, delivery and performance of this Agreement and the Relevant Documents has been duly authorized by all necessary action on the part of Borrower; is not inconsistent with the certificate of incorporation, by-laws or other governing documents; does not contravene any law, governmental rule, regulation or order applicable to Borrower; and does not and will not contravene any provision of, or constitute a default under, any material indenture, mortgage, contract or other instrument or any order, writ, injunction or decree to which Borrower is a party or by which it or its properties or assets are bound. (b) This Agreement and the Relevant Documents, upon their execution and delivery, will constitute the legal, valid and binding agreements of Borrower, enforceable in accordance with their terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors' rights generally (whether enforcement is sought at law or in equity).

Due Authorization; No Default. (a) The execution, delivery and performance of this Loan Agreement and the Relevant Documents has been duly authorized by all necessary action on the part of Borrower; is not inconsistent with the its certificate of incorporation, by-laws or and other governing documents; does not contravene any law, governmental rule, regulation or order applicable to Borrower; and does not and will not contravene any provision of, or constitute a default under, any material indenture, mortgage, contract or other instrument or any order, writ, injunction or decree to which Borrower is a party or by which it or its properties or assets are bound. (b) This Loan Agreement and the Relevant Documents, upon their execution and delivery, and assuming due execution and delivery by Lender, will constitute the legal, valid and binding agreements of Borrower, enforceable in accordance with their terms, terms except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium moratorium, or similar laws affecting at the enforcement of creditors' rights generally (whether enforcement is sought at law or time in equity)effect.