Common use of Authorization and Effect Clause in Contracts

Authorization and Effect. If a corporation, such Purchaser has the requisite corporate power to execute and deliver this Agreement, and to consummate the transactions contemplated hereby. If a corporation, the execution and delivery by such Purchaser of this Agreement, and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action by such Purchaser. This Agreement has been duly executed and delivered by such Purchaser and, assuming the due execution and delivery of this Agreement by the Company, this Agreement constitutes the valid and binding obligation of such Purchaser enforceable against such Purchaser in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights in general and subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

Authorization and Effect. If a corporation, such the Purchaser has the requisite corporate power to execute and deliver this Agreement, and to consummate the transactions contemplated hereby. If a corporation, the execution and delivery by such the Purchaser of this Agreement, and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action by such the Purchaser. This Agreement has been duly executed and delivered by such the Purchaser and, assuming the due execution and delivery of this Agreement by the CompanySeller, this Agreement constitutes the valid and binding obligation of such the Purchaser enforceable against such the Purchaser in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights in general and subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).