Common use of Authorization, Enforcement, and Validity Clause in Contracts

Authorization, Enforcement, and Validity. Such Purchaser has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. Such Purchaser has taken all necessary action to authorize the execution, delivery and performance of this Agreement. Upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of the Purchaser enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity.

Appears in 4 contracts

Samples: Securities Purchase Agreement (North American Scientific Inc), Securities Purchase Agreement (North American Scientific Inc), Securities Purchase Agreement (Palatin Technologies Inc)

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Authorization, Enforcement, and Validity. Such Purchaser has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. Such Purchaser has taken all necessary action to authorize the execution, delivery and performance of this Agreement. Upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of the Purchaser enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors' and contracting parties' rights generally and except as enforceability may be subject to general principles of equity.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Icahn Carl C Et Al), Securities Purchase Agreement (Myogen Inc), Securities Purchase Agreement (Adventrx Pharmaceuticals Inc)

Authorization, Enforcement, and Validity. Such The Purchaser has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. Such The Purchaser has taken all necessary action to authorize the execution, delivery and performance of this Agreement. Upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of the Purchaser enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors' and contracting parties' rights generally and except as enforceability may be subject to general principles of equity.

Appears in 1 contract

Samples: Stock Purchase Agreement (Vaxgen Inc)

Authorization, Enforcement, and Validity. Such The Purchaser has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. Such The Purchaser has taken all necessary action to authorize the execution, delivery and performance of this Agreement. Upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of the Purchaser enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity.' and

Appears in 1 contract

Samples: Note Purchase Agreement (Vaxgen Inc)

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Authorization, Enforcement, and Validity. Such The Purchaser has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. Such The Purchaser has taken all necessary action to authorize the execution, delivery and performance of this Agreement. Upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of the Purchaser enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity.

Appears in 1 contract

Samples: Stock and Warrant Purchase Agreement (Vaxgen Inc)

Authorization, Enforcement, and Validity. Such Purchaser has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. Such Purchaser has taken all necessary action to authorize the execution, delivery and performance of this Agreement. Upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of the Purchaser enforceable against the Purchaser in accordance with its terms, except as enforceability hereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ and contracting parties’ ' rights generally and except as enforceability may be subject to by general principles of equityequitable principles.

Appears in 1 contract

Samples: Stock Purchase Agreement (Connetics Corp)

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