Common use of Authority and Action Clause in Contracts

Authority and Action. Holdings has the corporate power and authority to enter into this Agreement and each agreement and instrument to be executed and delivered by Holdings pursuant hereto and to perform all of its obligations and consummate the transactions contemplated hereby and thereby. Holdings has taken all necessary and appropriate corporate actions to authorize, execute and deliver this Agreement and each agreement and instrument to be executed and delivered by Holdings pursuant hereto and to consummate the transactions contemplated hereby or thereby. This Agreement has been, and each agreement and instrument to be executed and delivered by Holdings pursuant hereto will be when so executed and delivered, duly and validly executed and delivered by Holdings and constitutes or when so executed will constitute a valid and binding obligation of Holdings, enforceable in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, moratorium or similar laws affecting the rights of creditors generally and by general principles of equity.

Authority and Action. Holdings WRS has the corporate power and authority to enter into this Agreement and each agreement and instrument to be executed and delivered by Holdings WRS pursuant hereto and to perform all of its obligations and consummate the transactions contemplated hereby and thereby. Holdings WRS has taken all necessary and appropriate corporate actions action to authorize, execute and deliver this Agreement and each agreement and instrument to be executed and delivered by Holdings WRS pursuant hereto and to consummate the transactions contemplated hereby or and thereby. This Agreement has been, and each agreement and instrument to be executed and delivered by Holdings WRS pursuant hereto will be when so executed and delivered, duly and validly executed and delivered by Holdings WRS and constitutes or when so executed will constitute a valid and binding obligation of HoldingsWRS, enforceable in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, moratorium or similar laws affecting the rights of creditors generally and by general principles of equity.