Common use of Authority to Enter into Agreement Clause in Contracts

Authority to Enter into Agreement. By execution of this Agreement below, each Person executing such Agreement represents and covenants as follows: (a) The Person has full legal right, power, and authority to enter into this Agreement and to perform the obligations under this Agreement, including the obligation of the Sole Member to make the Capital Contributions set forth in Article III; (b) The Agreement constitutes the legal, valid, and binding obligation of the Person enforceable in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy and other laws of general application relating to creditors’ rights or general principles of equity; and (c) The Agreement does not violate, conflict with, result in a breach of the terms, conditions, or provisions of, or constitute a default or an event of default under any other agreement of which the Person is a party.