Common use of Power and Authority of Borrower Clause in Contracts

Power and Authority of Borrower. Borrower has the corporate power and authority to execute, deliver and carry out the terms and provisions of each of the Loan Documents to which it is a party and to consummate the transactions contemplated thereby and has taken all necessary action to authorize the execution and delivery on behalf of Borrower and the performance by Borrower of, and the consummation of the transactions contemplated by, such Loan Documents. Borrower has duly executed and delivered each Loan Document to which it is a party, and each such Loan Document constitutes the legal, valid and binding obligation of Borrower, enforceable in accordance with its terms, except as enforceability may be limited by applicable insolvency, bankruptcy or other laws affecting creditors rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law.

Power and Authority of Borrower. Borrower has the corporate partnership power and authority to execute, deliver and carry out the terms and provisions of each of the Loan Documents to which it is a party and to consummate the transactions contemplated thereby and has taken all necessary action to authorize the execution and delivery on behalf of Borrower and the performance by Borrower of, and the consummation of the transactions contemplated by, such Loan Documents. Borrower has duly executed and delivered each Loan Document to which it is a party, and each such Loan Document constitutes the legal, valid and binding obligation of Borrower, enforceable in accordance with its terms, except as enforceability may be limited by applicable insolvency, bankruptcy or other laws affecting creditors rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law.