Common use of Powers and authority Clause in Contracts

Powers and authority. It has (or had at the relevant time) the power and authority to execute and deliver the Transaction Documents to which it is a party and it has the power and authority to perform its obligations under the Transaction Documents to which it is a party and the transactions contemplated thereby.

Powers and authority. It has (or had at the relevant time) the power and authority to execute and deliver the Transaction Finance Documents to which it is a party and it has the power and authority to perform its obligations under the Transaction Finance Documents to which it is a party and the transactions contemplated thereby.