Common use of Authority and Binding Obligation Clause in Contracts

Authority and Binding Obligation. The Seller has full power and authority to execute and deliver this Agreement and all other documents to be executed and delivered by it pursuant to this Agreement (collectively, the “Seller’s Documents”), and to perform all obligations required of it under this Agreement and each of the Seller’s Documents. The execution and delivery by Seller of this Agreement and, when executed and delivered, each of the Seller’s Documents, and the performance by Seller of its obligations under this Agreement and, when executed and delivered, each of the Seller’s Documents, have been, or will have been, duly and validly authorized by all necessary action by the Seller. This Agreement and when executed and delivered the Seller’s Documents, constitute or will constitute legal, valid and binding obligations of the Seller enforceable against the Seller in accordance with its and their terms, except to the extent the Purchaser itself is in default hereunder or thereunder.

Appears in 2 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (CNL Income Properties Inc)

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Authority and Binding Obligation. The (a) each Seller has full power and authority to execute and deliver this Agreement and all other documents to be executed and delivered by it such Seller pursuant to this Agreement (collectively, the “Seller’s Sellers’ Documents”), and to perform all obligations required of it under this Agreement and each of the Seller’s Sellers’ Documents. The ; (b) the execution and delivery by each Seller of this Agreement and, when executed and delivered, each of the Seller’s Sellers’ Documents, and the performance by each Seller of its obligations under this Agreement and, when executed and delivered, each of the Seller’s Sellers’ Documents, have been, or will have been, duly and validly authorized by all necessary action by the such Seller. This ; and (c) this Agreement and and, when executed and delivered delivered, the Seller’s DocumentsSellers’ Documents constitute, constitute or will constitute constitute, legal, valid valid, and binding obligations of the each Seller enforceable against the such Seller in accordance with its and their terms, except to the extent the Purchaser itself is in default hereunder or thereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (CNL Lifestyle Properties Inc)

Authority and Binding Obligation. (i) The Seller has full power and authority to execute and deliver this Agreement and all other documents to be executed and delivered by it pursuant to this Agreement (collectively, the “Seller’s Documents”), and to perform all obligations required of it under this Agreement and each of the Seller’s Documents. The , (ii) the execution and delivery by Seller of this Agreement and, when executed and delivered, each of the Seller’s Documents, and the performance by the Seller of its obligations under this Agreement and, when executed and delivered, each of the Seller’s Documents, have been, or will have beenbe, duly and validly authorized by all necessary action by the Seller. This , and (iii) this Agreement and and, when executed and delivered delivered, the Seller’s DocumentsDocuments constitutes, constitute or will constitute constitute, legal, valid and binding obligations of the Seller enforceable against the Seller in accordance with its and their terms, except to the extent the Purchaser itself is in default hereunder or thereunder.

Appears in 1 contract

Samples: Purchase and Sale Agreement (CNL Income Properties Inc)

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Authority and Binding Obligation. The Seller (i) Each of the Sellers has full power and authority to execute and deliver this Agreement and all other documents to be executed and delivered by it Sellers pursuant to this Agreement (collectively, the “Seller’s Documents”), and to perform all obligations required of it under this Agreement and each of the Seller’s Documents. The , (ii) the execution and delivery by Seller Sellers of this Agreement and, when executed and delivered, each of the Seller’s Documents, and the performance by Seller the Sellers of its their obligations under this Agreement and, when executed and delivered, each of the Seller’s Documents, have been, or will have been, duly and validly authorized by all necessary action by the Seller. This Sellers, and (iii) this Agreement and and, when executed and delivered delivered, the Seller’s DocumentsDocuments constitute, constitute or will constitute constitute, legal, valid and binding obligations of the Seller Sellers enforceable against the Seller Sellers in accordance with its and their terms, except to the extent the Purchaser itself is in default hereunder or thereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (CNL Income Properties Inc)

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