Common use of Agreement Authorized and its Effect on Other Obligations Clause in Contracts

Agreement Authorized and its Effect on Other Obligations. The consummation of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action on the part of WSI, and this Agreement is a valid and binding obligation of WSI enforceable (subject to normal equitable principles) in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, debtor relief or similar laws affecting the rights of creditors generally. The consummation of the transactions contemplated by this Agreement will not conflict with or result in a violation or breach of any term or provision of, or constitute a default under (i) the Certificate of Incorporation or Bylaws of WSI or (ii) any obligation, indenture, mortgage, deed of trust, lease, contract or other agreement to which WSI or any of its subsidiaries is a party or by which any of them or their properties are bound.