Common use of Authorization and Enforcement of Obligations Clause in Contracts

Authorization and Enforcement of Obligations. Ixsys (a) has the corporate power and authority and the legal right to enter into the Agreement and to perform its obligations hereunder and (b) has taken all necessary corporate action on its part to authorize the execution and delivery of the Agreement and the performance of its obligations hereunder. The Agreement has been duly executed and delivered on behalf of Ixsys, and constitutes a legal, valid, binding obligation, enforceable against such party in accordance with its terms.