Common use of Authority and Qualification Clause in Contracts

Authority and Qualification. of the Barge Family and CEFI. CEFI is a Luxembourg societe de participations financiere, duly organised and validly existing under the laws of Luxembourg, and it, along with each of the members of the Barge Family, has all necessary power and authority to enter into this Agreement, and CEFI has all necessary power and authority to enter into the New Stockholders Agreement and the New Registration Rights Agreement, to carry out their respective obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement, the New Stockholders Agreement and the New Registration Rights Agreement by CEFI and, with respect to this Agreement only, the Barge Family, the performance by the Barge Family and CEFI of their obligations hereunder and thereunder and the consummation by the Barge Family and CEFI of the transactions contemplated hereby and thereby have been duly authorized by all requisite action on the part of the Barge Family and CEFI. This Agreement has been, and upon their execution the New