Common use of Enforceability and Authority Clause in Contracts

Enforceability and Authority. This Agreement, the ▇▇▇▇ of Sale and Assignment, the Management Agreement, the Escrow Agreement and the Security Agreement have been duly executed and delivered by the Company and constitute legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms, except as may be limited by bankruptcy, reorganization, fraudulent conveyance, insolvency and similar laws of general application relating to or affecting the enforcement of rights of creditors and subject to general principles of equity. The Company has full power and authority (both legal and corporate) to execute and deliver this Agreement, the ▇▇▇▇ of Sale and Assignment, the Management Agreement, the Escrow Agreement and the Security Agreement and to perform its obligations hereunder and thereunder, and all required approvals of the Board of Directors and the stockholders of the Company have been duly and properly obtained.

Enforceability and Authority. This Agreement, the ▇▇▇▇ of Sale and Assignment, the Management Agreement, the Escrow Agreement and the Security Agreement other documents and instruments executed by the Company in connection herewith (the "Ancillary Documents") have been duly executed and delivered by the Company and constitute legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms, except as may be limited by bankruptcy, reorganization, fraudulent conveyance, insolvency and similar laws of general application relating to or affecting the enforcement of rights of creditors and subject to general principles of equity. The Company has full power and authority (both legal and corporate) to execute and deliver this Agreement, the ▇▇▇▇ of Sale and Assignment, the Management Agreement, the Escrow Agreement and the Security Agreement Ancillary Documents, and to perform its obligations hereunder and thereunder, and all required approvals of the Board of Directors and the stockholders shareholders of the Company have been duly and properly obtained.