Common use of Authority and Binding Obligations Clause in Contracts

Authority and Binding Obligations. Purchaser's Guarantor has the corporate power and authority to execute, deliver and perform its obligations under this Agreement and the Purchaser's Guaranty. The execution, delivery, and performance of this Agreement and the Purchaser's Guaranty by Purchaser's Guarantor have been duly and validly authorized by all necessary corporate action and do not conflict or result in a violation or breach of the articles of incorporation and by-laws of the Purchaser's Guarantor. This Agreement and the Purchaser's Guaranty constitute legal, valid and binding obligations of the Purchaser's Guarantor enforceable against Purchaser's Guarantor in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors' rights generally and general principles of equity (regardless of whether enforceability is considered in a proceeding at law or equity).

Authority and Binding Obligations. Purchaser's Sellers' Guarantor has the corporate power and authority to execute, deliver and perform its obligations under this Agreement and the Purchaser's Sellers' Guaranty. The execution, delivery, and performance of this Agreement and the Purchaser's Sellers' Guaranty by Purchaser's Sellers' Guarantor have been duly and validly authorized by all necessary corporate action and do not conflict or result in a violation or breach of the articles of incorporation and by-laws of the Purchaser's Sellers' Guarantor. This Agreement and the Purchaser's Sellers' Guaranty constitute legal, valid and binding obligations of the Purchaser's Sellers' Guarantor enforceable against Purchaser's Sellers' Guarantor in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors' rights generally and general principles of equity (regardless of whether enforceability is considered in a proceeding at law or equity).