Common use of Authority and Binding Obligation Clause in Contracts

Authority and Binding Obligation. Such Member has full power and authority to execute and deliver this Agreement and to perform its obligations under this Agreement. The execution and delivery by the undersigned on behalf of such Member and the performance by such Member of its obligations under this Agreement have been duly and validly authorized by all necessary action on the part of such Member, and this Agreement, when executed and delivered, will each constitute the legal, valid and binding obligations of such Member enforceable against such Member in accordance with its terms.