Common use of Corporate Power and Due Authorization Clause in Contracts

Corporate Power and Due Authorization. The Recipient has the corporate power and capacity to enter into and perform its obligations under this Agreement. This Agreement has been duly authorized, executed and delivered by the Recipient and is a valid and binding obligation of the Recipient enforceable against it, subject to bankruptcy, insolvency, moratorium, reorganization and other laws relating to or affecting the enforcement of creditors’ rights generally and equitable remedies, which may only be granted in the discretion of a court.