Orange County NC Website
Browse       Search
will not conflict with, or constitute a breach of or default <br /> under, or require any consent pursuant to, any law or regu- <br /> lations presently applicable to the Authority ( except for <br /> such consents and approvals as have heretofore been obtain- <br /> ed) , the by-laws of the Authority, any order of any court , <br /> regulatory body or arbitral tribune or any agreement or <br /> instrument to which the Authority is a party or by which it <br /> is bound. <br /> (h) To best of the Authority ' s knowledge, there are no <br /> judicial, regulatory or arbitral proceedings pending or <br /> threatened against the Authority which, if decided adversely <br /> to the Authority, would have a material adverse effect on <br /> the issuance and sale of the Bond or any of the transactions <br /> of the Authority in connection therewith. <br /> ( i ) When duly executed and delivered on behalf of the <br /> Authority, and assuming the due authorization, execution and <br /> delivery by the other parties thereto, the Bond Documents to <br /> which the Authority is a party shall constitute valid and <br /> binding limited obligations of the Authority in accordance <br /> with their terms. <br /> Section 2. 2. Representations by the Company. The Company <br /> represents and warrants as follows: <br /> (a) The Company is a corporation validly incorporated <br /> and existing and in good standing under the laws of the <br /> State, has corporate and other legal authority to enter <br /> into, and to perform the agreements and covenants on its <br /> part contained in the Bond Documents to which it is a party, <br /> and has duly authorized the execution, delivery and per- <br /> formance of the Bond Documents to which it is a party. <br /> (b) The execution and delivery of the Bond Documents <br /> to which it is a party, consummation of the transactions <br /> contemplated hereby and thereby, and the fulfillment of or <br /> compliance with the terms and conditions hereof and thereof <br /> will not conflict with or constitute a breach of or a <br /> default under any agreement or instrument to which the <br /> Company is a party or any existing law, administrative <br /> regulation, court order or consent decree to which the <br /> Company is subject, or by which it or any of its property is <br /> bound. Each of the Bond Documents to which the Company is a <br /> party is enforceable against the Company in accordance with <br /> its terms. <br /> (c) The Project described in Exhibit B hereto is <br /> substantially the same in all material respects to that <br /> described in the Authority 's application to the Department <br /> 11. <br />