Common use of APPROVAL AND PERFORMANCE Clause in Contracts

APPROVAL AND PERFORMANCE. The Purchaser is duly organized, validly existing and in current status under the laws of the State of Wisconsin and has the power and authority to enter into this Agreement and perform its obligations hereunder. Newco is duly incorporated, validly existing and in current status under the laws of the State of Delaware and has the power and authority to enter into this Agreement and perform its obligations hereunder. The execution, delivery and performance of this Agreement have been duly approved by all requisite action of the Purchaser and Newco and the Purchaser and Newco have full right, power and authority to enter into EXHIBIT 10.21 this Agreement and to otherwise perform all of its obligations under this Agreement. The performance of this Agreement, by the Purchaser and Newco will not result in a breach or violation of any of the terms or provisions of, or constitute a default under, any law, indenture, mortgage, deed of trust, note agreement or other agreement or instrument to which the Purchaser or Newco is a party or by which the Purchaser or Newco are bound, or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Purchaser or Newco or the property of the Purchaser or Newco. This Agreement constitutes the valid and legally binding agreement of the Purchaser and Newco enforceable in accordance with its terms.