Execution and Effect of Agreement. WE JAC has the corporate power to enter into this Agreement and to perform its obligations hereunder and, subject to the due authorization and approval of its shareholders, to enter into and consummate the WE JAC Merger. This Agreement has been duly executed and delivered by WE JAC and constitutes a legal, valid and binding obligation of WE JAC, fully enforceable against WE JAC in accordance with its terms; except as enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other laws of general application relating to or affecting enforcement of creditors' rights and the exercise of judicial discretion in accordance with general principles of equity.
Appears in 3 contracts
Sources: Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc), Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc), Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc)