Common use of Authority and Approvals Clause in Contracts

Authority and Approvals. (a) The execution and delivery of this Agreement and the other agreements contemplated hereby to which SCF is a party have been duly and properly authorized by all necessary partnership action on the part of SCF. This Agreement and the other agreements contemplated hereby to which it is a party have been duly executed and delivered by SCF and constitute the valid and legally binding obligations of SCF, enforceable against it in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws of general applicability relating to or affecting creditors' rights and to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). (b) No approval, authorization or consent from any governmental entity is required by or with respect to SCF in connection with the execution and delivery of this Agreement or any other agreement contemplated hereby by SCF or the consummation by SCF of the transactions contemplated hereby or thereby, except for any such approvals, authorizations or consents the failure of which to be made or obtained has not impaired and could not reasonably be expected to impair the ability of SCF to perform its obligations under this Agreement or any other agreement contemplated hereby in any material respect.