Common use of Authority; Authorization of Agreement Clause in Contracts

Authority; Authorization of Agreement. Buyer has all requisite power and authority to execute and deliver this Agreement, to consummate the transactions contemplated herein and to perform all the terms and conditions to be performed by it as provided for in this Agreement. The execution and delivery of this Agreement by Buyer, the performance by Buyer of all the terms and conditions to be performed by it and the consummation of the transactions contemplated herein have been duly authorized and approved by all necessary corporate action. This Agreement has been duly executed and delivered by Buyer and constitutes the valid and binding obligation of Buyer, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency or other Laws relating to or affecting the enforcement of creditors’ rights and general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).

Appears in 4 contracts

Samples: Purchase and Sale Agreement (Enterra Energy Trust), Purchase and Sale Agreement (Enterra Energy Trust), Purchase and Sale Agreement (Enterra Energy Trust)

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Authority; Authorization of Agreement. Buyer Seller has all requisite power and authority to execute and deliver this Agreement, to consummate the transactions contemplated herein hereby and to perform all the terms and conditions hereof to be performed by it as provided for in this Agreementit. The execution and delivery of this Agreement by BuyerAgreement, the performance by Buyer of all the terms and conditions hereof to be performed by it Seller and the consummation of the transactions contemplated herein hereby have been duly authorized and approved by all necessary corporate actionowners of the entities comprising Seller. This Agreement has been duly executed and delivered by Buyer Seller and constitutes the valid and binding obligation of BuyerSeller, enforceable against it Seller in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency or other Laws laws relating to or affecting the enforcement of creditors' rights generally and general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law or in equitylaw).

Appears in 1 contract

Samples: Purchase and Sale Agreement (NYTEX Energy Holdings, Inc.)

Authority; Authorization of Agreement. Upon receipt of the approval of the Board of Directors of its general partner, which board has not yet reviewed this Agreement or the transaction contemplated hereby, Buyer has will have all requisite power and authority to execute and deliver this Agreement, to consummate the transactions contemplated herein hereby and to perform all the terms and conditions hereof to be performed by it as provided for in it. Subject to Buyer receiving approval from the Board of Directors of its general partner, this Agreement. The execution and delivery of this Agreement by Buyer, the performance by Buyer of all the terms and conditions to be performed by it and the consummation of the transactions contemplated herein have been duly authorized and approved by all necessary corporate action. This Agreement has been duly executed and delivered by Buyer and constitutes the legal, valid and binding obligation of Buyer, enforceable against it in accordance with its terms, except as such enforceability may be limited by subject to applicable bankruptcy, insolvency or other similar Laws relating to or affecting the enforcement of creditors’ creditor's rights generally and to general principles of equity (regardless of whether such enforceability enforcement is considered in a proceeding in equity or at law or in equitylaw).

Appears in 1 contract

Samples: Facilities Sale Agreement (Williams Energy Partners L P)

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Authority; Authorization of Agreement. Buyer has all requisite power and authority to execute and deliver this Agreement, to consummate the transactions contemplated herein and to perform all the terms and conditions to be performed by it as provided for in this Agreement. The execution and delivery of this Agreement by Buyer, the performance by Buyer of all the terms and conditions to be performed by it and the consummation of the transactions contemplated herein will have been duly authorized and approved by all necessary corporate action. This Agreement has been duly executed and delivered by Buyer and constitutes the valid and binding obligation of Buyer, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency or other Laws relating to or affecting the enforcement of creditors' rights and general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Exco Resources Inc)

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