Authorization of the Documents. The execution, delivery and performance of each of the Documents has been duly authorized by all requisite corporate action on the part of the Company, including by a disinterested majority of the board of directors of the Company in accordance with Section 144 of the Delaware General Corporation Law, and each of the Documents constitutes a legal, valid and binding obligation of the Company, enforceable against the Company, in accordance with its terms, except to the extent that enforceability may be limited by bankruptcy, insolvency or other similar laws affecting creditors' rights generally.
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Sources: Purchase Agreement (United Auto Group Inc), Purchase Agreement (Penske Capital Partners LLC)
Authorization of the Documents. The execution, delivery and ------------------------------ performance of each of the Documents has been duly authorized by all requisite corporate action on the part of the Company, including by a disinterested majority of the board of directors of the Company in accordance with Section 144 of the Delaware General Corporation Law, and each of the Documents constitutes a legal, valid and binding obligation of the Company, enforceable against the Company, Company in accordance with its terms, terms except to the extent that enforceability may be limited by principles of equity, bankruptcy, insolvency or other similar laws affecting creditors' rights generally.
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