Common use of Corporate Power and Due Authorization Clause in Contracts

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