Common use of Capacity and authorisation Clause in Contracts

Capacity and authorisation. The entry into and performance by the Borrower of this Agreement and the other Finance Documents and the Charters to which it is (or is to become) a party are within the corporate powers of the Borrower and have been duly authorised by all necessary corporate actions and approvals. In entering into this Agreement and the other relevant Finance Documents and Charters the Borrower is acting on its own account and not as agent or nominee of any person.

Capacity and authorisation. The entry into and performance by the each Borrower of this Agreement and the other Finance Documents and the Charters Transaction Documents to which it is (or is to become) a party are within the corporate powers of the that Borrower and have been duly authorised by all necessary corporate actions and approvals. In entering into this Agreement and the other relevant Finance Documents and Charters the Transaction Documents each Borrower is acting on its own account and not as agent or nominee of any person.