Common use of Representations and Warranties of the Authority Clause in Contracts

Representations and Warranties of the Authority. PLBs (a.) it has full power and authority to execute, deliver and perform its obligations under this Agreement and to carry out the transactions contemplated herein and that it has taken all actions necessary to execute this Agreement, exercise the rights and perform the obligations specified under this Agreement on behalf of all PLBs. (b.) it has taken all necessary actions under the Applicable Laws to authorize the execution, delivery and performance of this Agreement. (c.) it has the financial standing and capacity to perform its obligations under this Agreement. (d.) this Agreement constitutes a legal, valid and binding obligation enforceable against it in accordance with the terms hereof. (e.) all information provided by the Authority in the bid documents in connection with the Project is to the best of its knowledge and true and accurate in all material respects.