Common use of Authority; Execution; Enforceability Clause in Contracts

Authority; Execution; Enforceability. The Subscriber has all requisite capacity, power and authority to (a) execute and deliver this Agreement and the Issuer LLC Agreement, (b) perform its obligations hereunder and thereunder, and (c) consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement and the Issuer LLC Agreement, the performance of its obligations hereunder and thereunder, and the consummation of the transactions contemplated hereby and thereby by the Subscriber has been duly authorized by all requisite action on the part of such Subscriber, and no other action on the part of the Subscriber is necessary for the execution, delivery and performance of this Agreement and the Issuer LLC Agreement by the Subscriber or the consummation of the transactions contemplated hereby and thereby. Assuming the due authorization, execution and delivery of this Agreement by all other parties hereto and the Issuer LLC Agreement by the other parties thereto, this Agreement and the Issuer LLC Agreement constitute the legal, valid and binding obligation of the Subscriber, enforceable against the Subscriber in accordance with its terms, subject to (x) bankruptcy, insolvency, reorganization, moratorium and similar Laws affecting creditors’ rights and remedies generally and (y) general principles of equity.

Appears in 2 contracts

Samples: Subscription Agreement (iPic Entertainment Inc.), Subscription Agreement (iPic Entertainment Inc.)

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Authority; Execution; Enforceability. The Subscriber Issuer has all requisite capacity, power and authority to (a) execute and deliver this Agreement and the Issuer LLC Agreement, (b) perform its obligations hereunder and thereunderhereunder, and (c) consummate the transactions contemplated hereby and therebyhereby. The execution and delivery of this Agreement and the Issuer LLC Agreement, the performance of its obligations hereunder and thereunderhereunder, and the consummation of the transactions contemplated hereby and thereby hereby, by the Subscriber has Issuer have been duly authorized by all requisite action on the part of such Subscriber, Issuer and no other action on the part of the Subscriber Issuer is necessary for the execution, delivery and performance of this Agreement and the by Issuer LLC Agreement by the Subscriber or the consummation of the transactions contemplated hereby and therebyhereby. Assuming the due authorization, execution and delivery of this Agreement and the Issuer LLC Agreement by all other parties hereto and the Issuer LLC Agreement by the other parties thereto, this Agreement and the Issuer LLC Agreement constitute the legal, valid and binding obligation obligations of the SubscriberIssuer, enforceable against the Subscriber Issuer in accordance with its their respective terms, subject to (x) bankruptcy, insolvency, reorganization, moratorium and similar Laws federal, state, local, international statute, law (including international conventions, protocols and treaties), ordinance, rule, regulation, or legally binding guidance document of any Governmental Entity (together, “Laws”) affecting creditors’ rights and remedies generally and (y) general principles of equity. Issuer has all requisite power and authority to issue Issuer Units in accordance with this Agreement.

Appears in 2 contracts

Samples: Subscription Agreement (iPic Entertainment Inc.), Subscription Agreement (iPic Entertainment Inc.)

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Authority; Execution; Enforceability. The Subscriber Issuer has all requisite capacity, power and authority to (a) execute and deliver this Agreement and the Issuer LLC Agreement, (b) perform its obligations hereunder and thereunderhereunder, and (c) consummate the transactions transaction contemplated hereby and therebyhereby. The execution and delivery of this Agreement and the Issuer LLC Agreement, the performance of its obligations hereunder and thereunderhereunder, and the consummation of the transactions transaction contemplated hereby and thereby hereby, by the Subscriber has Issuer have been duly authorized by all requisite action on the part of such Subscriber, Issuer and no other action on the part of the Subscriber Issuer is necessary for the execution, delivery and performance of this Agreement and the by Issuer LLC Agreement by the Subscriber or the consummation of the transactions transaction contemplated hereby and therebyhereby. Assuming the due authorization, execution and delivery of this Agreement by all other parties hereto and the Issuer LLC Agreement by the other parties theretohereto, this Agreement and the Issuer LLC Agreement constitute the legal, constitutes a valid and binding obligation of the SubscriberIssuer, enforceable against the Subscriber Issuer in accordance with its terms, subject to (x) bankruptcy, insolvency, reorganization, moratorium and similar Laws federal, state, local, international statute, law (including international conventions, protocols and treaties), ordinance, rule, regulation, or legally binding guidance document of any Governmental Entity (as defined below) (together, “Laws”) affecting creditors’ rights and remedies generally and (y) general principles of equity. Issuer has all requisite power and authority to issue the Issuer Units in accordance with this Agreement.

Appears in 1 contract

Samples: Subscription Agreement (iPic Entertainment Inc.)

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