Common use of Authority and Binding Obligations Clause in Contracts

Authority and Binding Obligations. The Purchaser has the necessary limited liability company power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The Purchaser has duly executed and delivered this Agreement and, assuming due authorization, execution, and delivery hereof by the Company, this Agreement constitutes the valid and legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium, or other similar laws relating to creditors’ rights and general principles of equity.