Common use of Organization; Power; Authorization Clause in Contracts

Organization; Power; Authorization. (a) The Issuer has good title to the Collateral to the extent of the rights it purports to have therein, owns its interest in the Collateral free and clear of all Liens whatsoever except for Permitted Liens, and, subject to Permitted Liens, has the right to mortgage, give, grant, bargain, sell, alienate, convey, confirm, pledge, assign and hypothecate the same and to grant a security interest therein. The Issuer has title to, or possesses easements, subeasements, leases and/or licenses covering the use of, the related Project Land sufficient to permit the construction, ownership, maintenance and operation of the Project and owns the Improvements related thereto. No effective financing statement or other statement similar in effect covering all or any part of the Collateral (other than in connection with Permitted Liens and liens being released prior to the issuance of the Note) is on file in any recording office, except as may have been filed in favor of the Trustee (for the benefit of the holder of the Note) relating to the Security Agreement. The Issuer has no trade name, and none of the Collateral is a “mobile home” or similar item subject to any state’s certificate of title statute or similar statute (other than motor vehicles used in the ordinary course of business). (b) The execution, delivery and performance of this Security Agreement, and the granting of the Lien on and security interest in the Collateral as contemplated hereby have been duly authorized by all requisite action on the part of the Issuer and do not and shall not (with the passage of time or giving of notice, or both) constitute a violation or breach of or default or event of default under any provision of the Issuer’s certificate of formation, the operating agreement of the Issuer or any other limited liability company document of the Issuer or any agreement, indenture or instrument to which the Issuer is a party or by which it or the Security Property is or may be bound, or violate any writ, order, judgment or decree applicable to it or any law, statute or regulation applicable to it. The execution, delivery and performance of each other Security Document to which the Issuer is a party and the granting of the Liens on and security interest in the Collateral subject to such Security Document as contemplated thereby have been duly authorized by all requisite action on the part of the Issuer thereto and do not and shall not (with the passage of time, giving of notice, or both) constitute a violation or breach of or default or event of default under any provision of the Issuer’s certificate of formation, any operating agreement of the Issuer or any other limited liability company document of the Issuer or any agreement, indenture or instrument to which the Issuer is a party or by which it or the Security Property is or may be bound, or violate any writ, order, judgment or decree applicable to it or any law, statute or regulation applicable to it. This Security Agreement constitutes the legally valid and binding obligations of the Issuer, enforceable against the Issuer in accordance with its terms, and each other Security Document to which the Issuer is a party constitutes the legally valid and binding obligation of the Issuer, enforceable against the Issuer in accordance with its terms, except as enforcement may be limited by Debtor Relief Laws or by equitable principles relating to or limiting creditors’ rights generally.

Organization; Power; Authorization. (a) The Issuer Such Grantor has good title to the Collateral Security Property purported to the extent of the rights it purports to have therein, be pledged by such Grantor hereby and owns its interest in the Collateral such Security Property free and clear of all Liens whatsoever except for Permitted Liens, and, subject to Permitted Liens, has the right to mortgage, give, grant, bargain, sell, alienate, convey, confirm, pledge, assign and hypothecate the same and to grant a security interest therein. The Issuer Such Grantor, if a Project Owner Guarantor, has title to, or possesses easements, subeasements, leases and/or licenses covering the use of, the related Project Land sufficient to permit the construction, ownership, maintenance and operation of the Project it purports to own and owns the Improvements improvements related thereto. No effective financing statement or other statement similar in effect covering all or any part of the Collateral Security Property (other than in connection with Permitted Liens and liens Liens being released prior to the issuance of the NoteNotes) is on file in any recording office, except as may have been filed in favor of the Trustee (for the benefit of the holder of the Note) Secured Party relating to the this Security Agreement. The Issuer has no trade name, and none of the Collateral is a “mobile home” or similar item subject to any state’s certificate of title statute or similar statute (other than motor vehicles used in the ordinary course of business). (b) The execution, delivery and performance of this Security Agreement, and the granting of the Lien on and security interest in the Collateral Security Property as contemplated hereby hereby, have been duly authorized by all requisite action on the part of the Issuer such Grantor and do not and shall will not (with the passage of time or giving of notice, or both) constitute a violation or breach of or default or event of default under any provision of the Issuer’s such Grantor's certificate of formation, incorporation or partnership, as the case may be, any partnership or operating agreement of the Issuer such Grantor or any other corporation, partnership or limited liability company document of the Issuer any Grantor or any agreement, indenture or instrument to which the Issuer such Grantor is a party or by which it or the Security its Property is or may be bound, or violate any writ, order, judgment or decree applicable to it or any law, statute or regulation applicable to it. The execution, delivery and performance of each other Security Document to which the Issuer it is a party and the granting of the Liens on and security interest in the Collateral subject to such Security Document Property as contemplated thereby have been duly authorized by all requisite action on the part of the Issuer thereto such Grantor and do not and shall will not (with the passage of time, giving of notice, or both) constitute a violation or breach of or default or event of default under any provision of the Issuer’s such Grantor's certificate of formation, incorporation or partnership, as the case may be, any partnership or operating agreement of the Issuer such Grantor or any other corporation, partnership, or limited liability company document of the Issuer such Grantor or any agreement, indenture or instrument to which the Issuer such Grantor is a party or by which it or the Security Property its property is or may be bound, or violate any writ, order, judgment or decree applicable to it or any law, statute or regulation applicable to it. This Security Agreement constitutes the legally legal, valid and binding obligations of the Issuersuch Grantor, enforceable against the Issuer it in accordance with its terms, and each other Security Document to which the Issuer such Grantor is a party constitutes the legally legal, valid and binding obligation obligations of the Issuersuch Grantor, enforceable against the Issuer it in accordance with its terms, except as enforcement may be limited by Debtor Relief Laws or by equitable principles relating to or limiting creditors’ ' rights generally.

Organization; Power; Authorization. (a) The Issuer Such Grantor has good title to the Collateral Security Property purported to the extent of the rights it purports to have therein, be pledged by such Grantor hereby and owns its interest in the Collateral such Security Property free and clear of all Liens whatsoever except for Permitted Liens, and, subject to Permitted Liens, has the right to mortgage, give, grant, bargain, sell, alienate, convey, confirm, pledge, assign and hypothecate the same and to grant a security interest therein. The Issuer Such Grantor, if a Project Owner Grantor, has title to, or possesses easements, subeasements, leases and/or licenses covering the use of, the related Project Land sufficient to permit the construction, ownership, maintenance and operation of the Project it purports to own and owns the Improvements improvements related thereto. No effective financing statement or other statement similar in effect covering all or any part of the Collateral Security Property (other than in connection with Permitted Liens and liens Liens being released prior to the issuance of the NoteNotes) is on file in any recording office, except as may have been filed in favor of the Trustee (for the benefit of the holder of the Note) Secured Party relating to the this Security Agreement. The Issuer has no trade name, and none of the Collateral is a “mobile home” or similar item subject to any state’s certificate of title statute or similar statute (other than motor vehicles used in the ordinary course of business). (b) The execution, delivery and performance of this Security Agreement, and the granting of the Lien on and security interest in the Collateral Security Property as contemplated hereby hereby, have been duly authorized by all requisite action on the part of the Issuer such Grantor and do not and shall will not (with the passage of time or giving of notice, or both) constitute a violation or breach of or default or event of default under any provision of the Issuer’s such Grantor's certificate of formation, incorporation or partnership, as the case may be, any partnership or operating agreement of the Issuer such Grantor or any other corporation, partnership or limited liability company document of the Issuer any Grantor or any agreement, indenture or instrument to which the Issuer such Grantor is a party or by which it or the Security its Property is or may be bound, or violate any writ, order, judgment or decree applicable to it or any law, statute or regulation applicable to it. The execution, delivery and performance of each other Security Document to which the Issuer it is a party and the granting of the Liens on and security interest in the Collateral subject to such Security Document Property as contemplated thereby have been duly authorized by all requisite action on the part of the Issuer thereto such Grantor and do not and shall will not (with the passage of time, giving of notice, or both) constitute a violation or breach of or default or event of default under any provision of the Issuer’s such Grantor's certificate of formation, incorporation or partnership, as the case may be, any partnership or operating agreement of the Issuer such Grantor or any other corporation, partnership, or limited liability company document of the Issuer such Grantor or any agreement, indenture or instrument to which the Issuer such Grantor is a party or by which it or the Security Property its property is or may be bound, or violate any writ, order, judgment or decree applicable to it or any law, statute or regulation applicable to it. This Security Agreement constitutes the legally legal, valid and binding obligations of the Issuersuch Grantor, enforceable against the Issuer it in accordance with its terms, and each other Security Document to which the Issuer such Grantor is a party constitutes the legally legal, valid and binding obligation obligations of the Issuersuch Grantor, enforceable against the Issuer it in accordance with its terms, except as enforcement may be limited by Debtor Relief Laws or by equitable principles relating to or limiting creditors’ ' rights generally.