Common use of Proceedings of the Borrower Clause in Contracts

Proceedings of the Borrower. The Lender shall have received a copy of the resolutions, in form and substance satisfactory to the Lender, of the Board of Directors of the Borrower, and as applicable its Subsidiaries, authorizing (a) the execution, delivery and performance of this Agreement and the other Loan Documents by the Borrower and, as applicable, its Subsidiaries and (b) the granting by the Borrower and, as applicable, its Subsidiaries of the Liens created pursuant to this Agreement and the other Loan Documents, certified by the Secretary of the Borrower and of the applicable Subsidiaries as of the Closing Date, which certificates shall be in form and substance satisfactory to the Lender and shall state that the resolutions thereby certified have not been amended, modified, revoked or rescinded.