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Developer is a party or, to the knowledge of the Developer, by which the Developer is bound, or <br /> to which the Developer is subject. <br /> Section 5.01f.No Consents. No consent, authorization, approval, order or other action by, <br /> and no notice to or filing with, any court or governmental authority or regulatory body or third <br /> party is required for the due execution,delivery and performance by the delivery of this Agreement <br /> or the consummation of the transactions contemplated hereby or thereby. <br /> Section 5.05. Valid and Binding Obligation. This Agreement is the legal, valid and <br /> binding obligation of the Developer, enforceable against the Developer in accordance with its <br /> terms except as limited by applicable relief, liquidation, conservatorship,bankruptcy,moratorium, <br /> rearrangement, insolvency, reorganization or similar laws affecting the rights or remedies of <br /> creditors generally, as in effect from time to time. <br /> Section 5.06. No Pending Litigation. There is no action, proceeding, inquiry or <br /> investigation, at law or in equity, before any court, arbitrator, governmental or other board or <br /> official, pending or, to the current actual knowledge of the Developer, threatened against or <br /> affecting the Developer or any subsidiaries of the Developer,questioning the validity or any action <br /> taken or to be taken by the Developer in connection with the execution, delivery and performance <br /> by the Developer of this Agreement or seeking to prohibit,restrain or enjoin the execution,delivery <br /> or performance by the Developer hereof, wherein an unfavorable decision, ruling or finding (i) <br /> would adversely affect the validity or enforceability of,or the authority or ability of the Developer <br /> to perform, its obligations under this Agreement or (ii) would have a material adverse effect on <br /> the consolidated financial condition or results of operations of the Developer or on the ability of <br /> the Developer to conduct its business as presently conducted or as proposed or contemplated to be <br /> conducted. <br /> 6 <br />