Common use of Client Authority Clause in Contracts

Client Authority. Client has the requisite legal capacity and authority to execute, deliver and perform its obligations under this Agreement. This Agreement has been duly authorized, executed and delivered by Client and is the legal, valid and binding agreement of Client, enforceable against Client in accordance with its terms. Client’s execution of this Agreement and the performance of its obligations hereunder do not conflict with or violate any provisions of the governing documents (if any) of Client or any obligations by which Client is bound, whether arising by contract, operation of law or otherwise. Client will deliver to Management evidence of Client’s authority and compliance with its governing documents on Management’s request. Client is the owner of all cash and securities in the Account(s), and there are no restrictions on the pledge, hypothecation, transfer, sale or public distribution of such cash or securities. All the assets in the Account(s) are derived from legal and legitimate sources and are not in violation of any applicable law, rule or regulation.