Common use of Powers and Authorizations Clause in Contracts

Powers and Authorizations. (i) The Security Trustee has the power and authority to make, deliver and perform the transactions contemplated in the Basic Agreements to which it is or will be a party. (ii) Except as the same may have been obtained prior to the Advance Date, no consent or authorization of, filing with or other act by or in respect of any Governmental Authority is required in connection with the borrowing hereunder by the Borrower or with the execution, delivery, or performance by the Security Trustee, or the validity or enforceability against the Security Trustee of the Basic Agreements to which the Security Trustee is or will be a party, except for the (x) filings referred to in Section 4.1(d). This Loan Agreement has been, and each other Basic Agreement to which the Security Trustee will be a party will be, duly authorized, executed and delivered on behalf of the Security Trustee. (iii) This Loan Agreement constitutes, and each other Basic Agreement to which the Security Trustee will be a party when executed and delivered will constitute, a legal, valid and binding obligation of the Security Trustee, enforceable against the Security Trustee in accordance with its terms, except as the same may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).

Powers and Authorizations. (i) The Security Trustee Each Facility Agent has the power and authority to make, deliver and perform the transactions contemplated in the Basic Agreements to which it is or will be a party. (ii) Except as the same may have been obtained prior to the Advance Date, no consent or authorization of, filing with or other act by or in respect of any Governmental Authority is required in connection with the borrowing hereunder by the Borrower or with the execution, delivery, or performance by the Security Trusteesuch Facility Agent, or the validity or enforceability against the Security Trustee such Facility Agent of the Basic Agreements to which the Security Trustee such Facility Agent is or will be a party, except for the (x) filings referred to in Section 4.1(d). This Loan Agreement has been, and each other Basic Agreement to which the Security Trustee such Facility Agent will be a party will be, duly authorized, executed and delivered on behalf of the Security Trusteesuch Facility Agent. (iii) This Loan Agreement constitutes, and each other Basic Agreement to which the Security Trustee such Facility Agent will be a party when executed and delivered will constitute, a legal, valid and binding obligation of the Security Trusteesuch Facility Agent, enforceable against the Security Trustee such Facility Agent in accordance with its terms, except as the same may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).