Common use of Authorization of Basic Documents Clause in Contracts

Authorization of Basic Documents. As of the Closing Date, each of the Basic Documents to which any of the Transferor, the Transferor General Partner, RTR I LP, the RTR General Partner or the Trust is a party and the Transferor Partnership Agreement or the RTR Partnership Agreement, as the case may be, has been duly executed and delivered by each such entity, and, assuming the due authorization, execution and delivery thereof by the other parties thereto, will constitute the legal, valid and binding agreement of the Transferor, the Transferor General Partner, RTR I LP or the RTR General Partner, as the case may be, enforceable against such persons in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws related to fraudulent transfers), moratorium, reorganization or other similar laws affecting enforcement of creditors' rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

Authorization of Basic Documents. As of the Closing Date, each of the Basic Documents to which any of the TransferorDepositor, the Transferor Depositor General Partner, RTR I LP, the RTR General Partner or the Trust is a party and the Transferor Depositor Partnership Agreement or the RTR I Partnership Agreement, as the case may be, has been duly executed and delivered by each such entity, and, assuming the due authorization, execution and delivery thereof by the other parties thereto, will constitute the legal, valid and binding agreement of the TransferorDepositor, the Transferor Depositor General Partner, RTR I LP or the RTR General Partner, as the case may be, enforceable against such persons in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws related to fraudulent transfers), moratorium, reorganization or other similar laws affecting enforcement of creditors' ’ rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).