Common use of Authorization of Agreement and Enforceability Clause in Contracts

Authorization of Agreement and Enforceability. This Agreement and the Ancillary Documents have been (or will be prior to Closing) duly and validly authorized, executed and delivered by Seller and the Principals, and constitute legal, valid and binding obligations of Seller and the Principals, enforceable against Seller and the Principals, in accordance with their respective terms.

Authorization of Agreement and Enforceability. This Agreement and the Ancillary Documents have been (or will be prior to Closing) duly and validly authorized, executed and delivered by Seller and the Principals, Buyer and constitute the legal, valid and binding obligations of Seller and the Principals, Buyer enforceable against Seller and the Principals, Buyer in accordance with their respective terms, except to the extent that such enforcement may be limited by bankruptcy, insolvency, moratorium or other similar laws presently or hereinafter in effect.