Authorization and Reliance Sample Clauses

The 'Authorization and Reliance' clause establishes that each party entering into the agreement has the necessary authority to do so and that the other party can rely on this representation. In practice, this means that individuals signing on behalf of a company or organization confirm they have been properly empowered to bind their entity, and the counterparty does not need to independently verify this authority. This clause ensures that both parties can proceed with confidence, reducing the risk of disputes over whether the agreement is validly executed and enforceable.
Authorization and Reliance. GMAC understands that a copy of this Limited Guaranty shall be delivered to the Trustee in connection with the execution of Amendment No. 1 to the Servicing Agreement and GMAC hereby authorizes the Company and the Trustee to rely on the covenants and agreements set forth herein.
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Authorization and Reliance. Disclosing Party represents and warrants that it has the authority to disclose Confidential Information to the Receiving Party. Disclosing Party believes in good faith that the Confidential Information to be provided by it hereunder will not be materially misleading, but the Disclosing Party makes no other representation or warranties, express or implied, as to the quality, accuracy, completeness or reliability of the information so disclosed. Disclosing Party, its directors, officers and employees shall have no liability whatsoever with respect to the use of or reliance upon the Confidential Information by the Receiving Party.
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Authorization and Reliance. [____] understands that a copy of this Limited Guaranty shall be delivered to the Trustee in connection with the execution of Amendment No. 1 to the Servicing Agreement and [____] hereby authorizes the Company and the Trustee to rely on the covenants and agreements set forth herein.
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Authorization and Reliance. ResCap understands that a copy of this Limited Guaranty shall be delivered to the Trustee in connection with the execution of Amendment No. __ to the Servicing Agreement and ResCap hereby authorizes the Depositor and the Trustee to rely on the covenants and agreements set forth herein.
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Authorization and Reliance. Notwithstanding Section 6.1(a), in the event that the Sellers Representative, with the advice of counsel, is of the opinion that it requires further authorization or advice from the Sellers on any matters concerning this Agreement or the other Transaction Documents, the Sellers Representative shall be entitled to seek such further authorization from the Sellers prior to acting on their behalf. In such event, each Seller shall have a number of votes equal to such Seller’s Interests percentage and the authorization of a majority of such number of votes shall be binding on all of the Sellers and shall constitute the authorization of the Sellers. Purchaser and the Company (post-Closing) shall be fully protected in dealing with the Sellers Representative under this Agreement and may rely upon the authority of the Sellers Representative as if the relevant Seller is exercising such powers and authorities. Any payment by Purchaser or the Company (post-Closing), or both, to the Sellers Representative under this Agreement shall be considered a payment by Purchaser or the Company (post-Closing) to Sellers. The appointment of the Sellers Representative is coupled with an interest and shall be irrevocable by any Seller in any manner or for any reason. This power of attorney shall not be affected by the death, illness, dissolution, disability, incapacity or other inability to act of the principal pursuant to any applicable law.
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Authorization and Reliance. GMAC understands that a copy of this Limited aranty shall be delivered to the Trustee in connection with the execution of Amendment No. 1 to the Servicing Agreement and GMAC hereby authorizes the Depositor and the Trustee to rely on the covenants and agreements set forth herein.
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Related to Authorization and Reliance

  • Authorization and Effect of Agreement Sellers have all requisite power and authority to execute and deliver this Agreement and all of the other agreements, certificates and other documents delivered or to be delivered on or after the date hereof and at or prior to the Closing in connection with the transactions contemplated hereby (the "Ancillary Documents") to which each is or will be a party, and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Sellers of this Agreement and the Ancillary Documents to which each is or will be a party and the consummation by Sellers of the transactions contemplated hereby and thereby to be consummated by the Sellers have been duly authorized by all necessary corporate action on the part of Sellers, including, without limitation, all requisite approval by the stockholders of the Sellers pursuant to the Articles of Incorporation or By-Laws or other organizational documents of Sellers or otherwise. This Agreement and the Ancillary Documents to which each Seller is or will be a party have been or will be, as the case may be, duly executed and delivered by each Seller and constitute or will constitute, as the case may be, valid and binding obligations of Sellers, enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency or other similar Laws of general application affecting the enforcement of creditors' rights or by general principles of equity limiting the availability of equitable remedies (whether applied in a proceeding at law or equity).

  • Authorization and Consent The Government has given its authorization and consent for all use and manufacture of any invention described in and covered by a patent of the United States in the performance of this Agreement or any part hereof or any amendment hereto or any subcontract hereunder (including any lower-tier subcontract) which is expected to exceed $100,000.

  • Authorization of Agreement This Agreement has been duly authorized, executed and delivered by the Company.

  • Authorization of Agreements The execution and delivery of this Amendment and the performance of the Amended Agreement have been duly authorized by all necessary corporate action on the part of the Borrower.

  • Authorization and Execution The execution, delivery and performance of this Agreement has been duly authorized by all necessary action on the part of such Purchaser, and, assuming due authorization, execution and delivery by the other parties hereto, this Agreement is a legal, valid and binding obligation of such Purchaser, enforceable against such Purchaser in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or by general equitable principles.