Common use of Authority and Binding Effect Clause in Contracts

Authority and Binding Effect. Buyer has all requisite legal and corporate or other power and capacity, and has taken all requisite corporate or other action, to execute and deliver this Agreement and to carry out and perform all of its obligations under this Agreement and this Agreement constitutes the legal, valid and binding obligation of Buyer, enforceable in accordance with its terms except as limited by applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors rights generally and as limited by equitable principles generally.