Section 3.03 Fuel. Borrower has all requisite corporate or other power, and has all governmental licenses, authorizations, consents and approvals necessary to own its assets and carry on its business as now being or as proposed to be conducted, except where the lack of such licenses, authorizations, consents and approvals would not be reasonably likely to have a Material Adverse Effect.
Debtor is solvent and will not end up being made insolvent by one Financing Advance and you will, after providing perception so you’re able to such as Mortgage Progress, may not be left that have an enthusiastic unreasonably few money with which to engage in their providers
Section 3.04 Due Authorization. This Agreement, any Notice of Borrowing and the Loan Documents have been (or, in the case of Loan Documents and any Notice of Borrowing not yet executed, will be) duly authorized, executed and delivered by Borrower, all requisite or other corporate action having been taken, and each is valid, binding and enforceable against Borrower in accordance with its terms except as such enforcement may be affected by bankruptcy, by other insolvency laws, or by general principles of equity.
Section 3.05 Monetary Comments. (a) Borrower has heretofore furnished to Lender a copy of (a) its balance sheet for the fiscal year of Borrower ended and the related statements of income for Borrower for such fiscal year, with the opinion thereon of $800 loan today Phenix City AL Deloitte & Touche LLP and (b) its balance sheet for the quarterly fiscal period of Borrower ended and the related statements of income for Borrower for such quarterly fiscal period.