Common use of Authorization; Execution and Delivery; Enforceability Clause in Contracts

Authorization; Execution and Delivery; Enforceability. Each of Progress Energy and Progress Fuels has full corporate power and authority to enter into, deliver and perform this Agreement, and each agreement or instrument (to which it is a party) executed in connection herewith or delivered pursuant hereto and to consummate the transactions contemplated hereby. Each of Progress Energy’s and Progress Fuels’ execution, delivery and performance of this Agreement and all agreements and instruments executed in connection herewith or delivered pursuant hereto and the transactions contemplated hereby have been duly authorized by all requisite corporate action. This Agreement and all agreements or instruments executed by Progress Energy and Progress Fuels in connection herewith or delivered by Progress Energy and Progress Fuels pursuant hereto have been duly executed and delivered thereby, and this Agreement and all agreements and instruments executed by Progress Energy and Progress Fuels in connection herewith or delivered thereby pursuant hereto constitute the legal, valid and binding obligations thereof, enforceable in accordance with their respective terms except to the extent that enforcement may be affected by applicable bankruptcy, reorganization, insolvency and similar laws affecting creditors’ rights and remedies generally and by general principles of equity (regardless of whether enforcement is sought at law or in equity).

Authorization; Execution and Delivery; Enforceability. Each of Progress Energy and Progress Fuels the Companies has full corporate power and authority to enter into, deliver and perform this Agreement, and each agreement or instrument (to which it is a party) executed in connection herewith or delivered pursuant hereto and to consummate the transactions contemplated hereby. Each of Progress Energy’s and Progress Fuelsthe Companies’ execution, delivery and performance of this Agreement and all agreements and instruments executed in connection herewith or delivered pursuant hereto and the transactions contemplated hereby have been duly authorized by all requisite corporate action. This Agreement and all agreements or instruments executed by Progress Energy and Progress Fuels the Companies in connection herewith or delivered by Progress Energy and Progress Fuels the Companies pursuant hereto have been duly executed and delivered thereby, and this Agreement and all agreements and instruments executed by Progress Energy and Progress Fuels the Companies in connection herewith or delivered thereby pursuant hereto constitute the legal, valid and binding obligations thereof, enforceable in accordance with their respective terms except to the extent that enforcement may be affected by applicable bankruptcy, reorganization, insolvency and similar laws affecting creditors’ rights and remedies generally and by general principles of equity (regardless of whether enforcement is sought at law or in equity).

Authorization; Execution and Delivery; Enforceability. Each of Progress Energy and Progress Fuels SXCP has full corporate power and authority to (a) enter into, deliver and perform this Agreement, and each agreement or instrument (to which it is a party) party executed in connection herewith or delivered pursuant hereto and to consummate the transactions contemplated herebyhereby and thereby. Each of Progress EnergySXCP’s and Progress Fuels’ execution, delivery and performance of this Agreement and all agreements and instruments executed in connection herewith or delivered pursuant hereto and the transactions contemplated hereby have been duly authorized by all requisite corporate action. This Agreement and all agreements or instruments executed by Progress Energy and Progress Fuels SXCP in connection herewith or delivered by Progress Energy and Progress Fuels SXCP pursuant hereto have been been, or will be at Closing, duly executed and delivered therebyby SXCP, and this Agreement and all agreements and instruments executed by Progress Energy and Progress Fuels SXCP in connection herewith or delivered thereby by SXCP pursuant hereto constitute or will constitute (when executed and delivered) the legal, valid and binding obligations thereofof SXCP, enforceable in accordance with their respective terms except to the extent that enforcement may be affected by applicable bankruptcy, reorganization, insolvency and similar laws affecting creditors’ rights and remedies generally and by general principles of equity (regardless of whether enforcement is sought at law or in equity).