Common use of Authorization; Valid Obligation Clause in Contracts

Authorization; Valid Obligation. The individuals executing this Agreement and the documents referenced herein on behalf of Seller have the legal power, right and actual authority to bind Seller to the terms and conditions hereof. The execution and delivery of this Agreement and the performance of Seller's obligations hereunder have been or will on or prior to the Closing Date be duly authorized by all necessary action on the part of Seller and this Agreement constitutes the legal, valid and binding obligation of Seller, enforceable in accordance with its terms, except as the same may be affected by bankruptcy, insolvency, moratorium or other similar laws or by legal or equitable principles relating to or limiting the rights of contracting parties generally.

Authorization; Valid Obligation. All proceedings required to be taken by or on behalf of Buyer to authorize Buyer to make, deliver and carry out the terms of this Agreement have been or will be duly taken prior to the Closing Date. The individuals executing this Agreement and the documents referenced herein on behalf of Seller Buyer have the legal power, right and actual authority to bind Seller Buyer to the terms and conditions hereof. The execution and delivery of this This Agreement and the performance of Seller's obligations hereunder have been or will on or prior to the Closing Date be duly authorized by all necessary action on the part of Seller and this Agreement constitutes the legal, is a valid and binding obligation of Seller, Buyer enforceable in accordance with its terms, except as the same may be affected by bankruptcy, insolvency, moratorium or other similar laws laws, or by legal or equitable principles relating to or limiting the rights of contracting parties generally.