Common use of Authorization of the Transactions Clause in Contracts

Authorization of the Transactions. The Company shall consummate the Transactions in accordance with their applicable terms and shall take on a timely basis all material actions necessary or required in relation thereto. The Company has taken all necessary corporate action to authorize the Transactions. As of the date on which the Transactions are consummated, the Company will have all necessary corporate power and authority to perform all of its obligations contemplated under each of the documents governing any of the Transactions and will have executed any agreements in connection therewith. The terms of the Amendment proposed in the Consent Solicitation, effected pursuant to a supplemental indenture (the “Supplemental Indenture”), have been approved by the requisite number of holders of the Parent Notes and the Supplemental Indenture has become effective, and the Amendment will be operative and in full force and effect on the Closing Date.