Authorization; Enforceability; Ratification Clause Samples
The "Authorization; Enforceability; Ratification" clause confirms that each party entering into the agreement has the legal authority and capacity to do so, and that the agreement is valid and binding upon them. In practice, this means that the individuals signing have been properly empowered by their respective organizations, and all necessary internal approvals or corporate actions have been taken to make the agreement effective. This clause ensures that the contract is legally enforceable and prevents later disputes about whether a party was properly authorized to commit to the agreement, thereby reducing the risk of unenforceability due to lack of authority or ratification.
Authorization; Enforceability; Ratification. This Consent has been duly and validly executed by an authorized officer of such Borrower and constitutes the legal, valid and binding obligation of such Borrower enforceable against such Borrower in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally. The Loan Agreement, as modified by this Consent, remains in full force and effect and remains the valid and binding obligation of each Borrower enforceable against such Borrower in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally.
Authorization; Enforceability; Ratification. This Release Request has been duly and validly executed by an authorized officer of the Borrower and the Restricted Subsidiaries and constitutes the legal, valid and binding obligation of the Borrower and the Restricted Subsidiaries enforceable against the Borrower and the Restricted Subsidiaries in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally. The Credit Agreement and the Security Agreements remain in full force and effect and remain the valid and binding obligation of, as applicable, the Borrower and the Restricted Subsidiaries enforceable against, as applicable, the Borrower and the Restricted Subsidiaries in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally.