Common use of Authority and Binding Obligation Clause in Contracts

Authority and Binding Obligation. (i) Purchaser has full power and authority to execute and deliver this Agreement and all documents now or hereafter to be executed and delivered by Purchaser under this Agreement, and to perform all obligations arising under this Agreement and such other documents, (ii) the execution by the undersigned on behalf of Purchaser, and the delivery and performance of this Agreement by Purchaser has been duly and validly authorized by all necessary action on the part of Purchaser, and (iii) this Agreement and such other documents now or hereafter to be executed and delivered by Purchaser under this Agreement, when executed and delivered, will each constitute the legal, valid and binding obligations of Purchaser enforceable against Purchaser in accordance with its terms, except to the extent Seller itself is in default hereunder.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Hyatt Hotels Corp), Purchase and Sale Agreement (Xenia Hotels & Resorts, Inc.), Purchase and Sale Agreement (Chesapeake Lodging Trust)

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Authority and Binding Obligation. (i) Purchaser Seller has full power and authority to execute and deliver this Agreement and all documents now or hereafter to be executed and delivered by Purchaser Seller under this Agreement, and to perform all obligations arising under this Agreement and such other documents, (ii) the execution by the undersigned on behalf of PurchaserSeller, and the delivery and performance of this Agreement by Purchaser Seller has been duly and validly authorized by all necessary action on the part of PurchaserSeller, and (iii) this Agreement Agreement, the Seller Closing Documents and such other documents now or hereafter to be executed and delivered by Purchaser Seller under this Agreement, when executed and delivered, will each constitute the legal, valid and binding obligations of Purchaser Seller enforceable against Purchaser Seller in accordance with its their respective terms, except to the extent Seller Purchaser itself is in default hereunder.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Pebblebrook Hotel Trust), Purchase and Sale Agreement (Pebblebrook Hotel Trust)

Authority and Binding Obligation. (i) Purchaser has full power and authority to execute and deliver this Agreement and all documents now or hereafter to be executed and delivered by Purchaser under this Agreement, and to perform all obligations arising under this Agreement and such other documents, (ii) the execution by the undersigned on behalf of Purchaser, and the delivery and performance of this Agreement by Purchaser has been duly and validly authorized by all necessary action on the part of Purchaser, and (iii) this Agreement Agreement, the Purchaser Closing Documents and such other documents now or hereafter to be executed and delivered by Purchaser under this Agreement, when executed and delivered, will each constitute the legal, valid and binding obligations of Purchaser enforceable against Purchaser in accordance with its terms, except to the extent Seller itself is in default hereunder.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Pebblebrook Hotel Trust), Purchase and Sale Agreement (Pebblebrook Hotel Trust)

Authority and Binding Obligation. (i) Purchaser has full power and authority to execute and deliver this Agreement and all documents now or hereafter to be executed and delivered by Purchaser under this Agreement, and to perform all obligations arising under this Agreement and such other documents, (ii) the execution by the undersigned on behalf of Purchaser, and the delivery and performance of this Agreement by Purchaser has been duly and validly authorized by all necessary partnership action on the part of Purchaser, and (iii) this Agreement and such other documents now or hereafter to be executed and delivered by Purchaser under this Agreement, when executed and delivered, will each constitute the legal, valid and binding obligations of Purchaser enforceable against Purchaser in accordance with its terms, except to the extent Seller itself is in default hereunder.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Westin Hotels LTD Partnership)

Authority and Binding Obligation. (i) Purchaser has full power and authority to execute and deliver this Agreement and all documents now or hereafter to be executed and delivered by Purchaser under this Agreement, and to perform all obligations arising under this Agreement and such other documents, (ii) the execution by the undersigned on behalf of Purchaser, and the delivery and performance of this Agreement by Purchaser has been duly and validly authorized by all necessary action on the part of Purchaser, and (iii) each of this Agreement and the Closing Documents to be executed and delivered by Purchaser, and such other documents now or hereafter to be executed and delivered by Purchaser under this Agreement, when executed and delivered, will each constitute the legal, valid and binding obligations of Purchaser enforceable against Purchaser in accordance with its terms, except to the extent Seller itself is in default hereunder.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Comstock Homebuilding Companies, Inc.)

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Authority and Binding Obligation. (i) Purchaser has full power and authority to execute and deliver this Agreement and all documents now or hereafter to be executed and delivered by Purchaser under this Agreement, and to perform all obligations arising under this Agreement and such other documents, (ii) the execution by the undersigned on behalf of Purchaser, and the delivery and performance of this Agreement by Purchaser has been duly and validly authorized by all necessary action on the part of Purchaser, and (iii) this Agreement and such other documents now or hereafter to be executed and delivered by Purchaser Purchase under this Agreement, when executed and delivered, will each constitute the legal, valid and binding obligations of Purchaser enforceable against Purchaser in accordance with its terms, subject to the application of equitable principles and Applicable Laws affecting the rights of creditors generally, and except to the extent Seller itself is in default hereunder.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Rg Global Lifestyles Inc)

Authority and Binding Obligation. (i) Purchaser has full power and authority to execute and deliver this Agreement and all documents now or hereafter to be executed and delivered by Purchaser under this Agreement, and to perform all obligations arising under this Agreement and such other documents, (ii) the execution by the undersigned on behalf of Purchaser, and the delivery and performance of this Agreement by Purchaser has been duly and validly authorized by all necessary partnership action on the part of Purchaser, and (iii) this Agreement and such other documents now or hereafter to be executed and delivered by Purchaser under this Agreement, when executed and delivered, will each constitute the legal, valid and binding obligations of Purchaser enforceable against Purchaser in accordance with its terms, subject to the application of equitable principles and Applicable Laws affecting the rights of creditors generally, and except to the extent Seller itself is in default hereunder.

Appears in 1 contract

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (Apple Hospitality Five Inc)

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