Common use of Authorizing Action Clause in Contracts

Authorizing Action. The Board of Directors and, if necessary, the stockholders of the Holder shall have duly adopted resolutions in the form reasonably satisfactory to the Company and shall have taken all action necessary for the purpose of authorizing the Holder to consummate all of the transactions contemplated hereby and the execution of this Agreement on behalf of Holder by the signatory hereto.

Appears in 2 contracts

Sources: Settlement Agreement (Nephros Inc), Settlement Agreement (Nephros Inc)