Assumption of Authority Clause Samples

The Assumption of Authority clause establishes that a person signing an agreement on behalf of a party has the legal power to do so. In practice, this clause requires the signatory to confirm they are duly authorized to bind the company or entity they represent, often by virtue of their position or explicit delegation. This provision helps prevent disputes by ensuring that only individuals with proper authority can commit an organization to contractual obligations, thereby protecting both parties from unauthorized agreements.
Assumption of Authority. Agent is entitled to assume, notwithstanding any investigation by or on behalf of Agent, the power and authority of the officers, directors, agents or other Persons acting or purporting to act on behalf of the Borrower or the Guarantor, and any Obligations made or created in reliance upon the exercise of such power or authority will be guaranteed hereunder.
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Assumption of Authority. The Administrative Agent and the Lenders are entitled to assume, notwithstanding any investigation by or on behalf of the Administrative Agent or any Lender, the power and authority of the officers, directors, agents or other persons acting or purporting to act on behalf of the Debtor or the Guarantor, and any Obligations made or created in reliance upon the exercise of such power or authority will be guaranteed hereunder.
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Assumption of Authority. The Lender is entitled to assume, notwithstanding any investigation by or on behalf of the Lender the power and authority of the officers, directors, agents or other Persons acting or purporting to act on behalf of the Borrower or any Material Subsidiary, and any Obligations made or created in reliance upon the exercise of such power or authority will be guaranteed hereunder.
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Related to Assumption of Authority

  • Delegation of Authority The General Partner may delegate any or all of its powers, rights and obligations hereunder, and may appoint, employ, contract or otherwise deal with any Person for the transaction of the business of the Partnership, which Person may, under supervision of the General Partner, perform any acts or services for the Partnership as the General Partner may approve.

  • Reservation of Authority Nothing in this subpart shall limit the authority of the Secretary to take action to enforce conditions or violations of law, including actions necessary to prevent evasions of this subpart.

  • Limitation of Authority No person is authorized to make any representations concerning the Funds or the Shares except those contained in the Prospectus of each Fund and in such printed information as the Distributor may subsequently prepare. No person is authorized to distribute any sales material relating to any Fund without the prior written approval of the Distributor.

  • Termination of Authority Immediately upon the Executive terminating or being terminated from his employment with the Company for any reason, notwithstanding anything else appearing in this Agreement or otherwise, the Executive will stop serving the functions of his terminated or expired position(s) and shall be without any of the authority or responsibility for such position(s).

  • Evidence of Authority The Custodian shall be protected in acting upon any instructions, notice, request, consent, certificate or other instrument or paper believed by it to be genuine and to have been properly executed by or on behalf of the Fund. The Custodian may receive and accept a certified copy of a vote of the Board of Directors of the Fund as conclusive evidence (a) of the authority of any person to act in accordance with such vote or (b) of any determination or of any action by the Board of Directors pursuant to the Articles of Incorporation as described in such vote, and such vote may be considered as in full force and effect until receipt by the Custodian of written notice to the contrary.