Authorization; Power Clause Samples
The "Authorization; Power" clause establishes that each party entering into the agreement has the legal authority and capacity to do so. It typically requires that individuals signing on behalf of a company or organization are duly authorized and possess the necessary power to bind their entity to the contract. This clause helps prevent disputes over the validity of the agreement by ensuring that all parties have the requisite authority, thereby safeguarding against unauthorized commitments and promoting contractual certainty.
Authorization; Power. The Company has all requisite corporate power to enter into this Agreement, and to carry out and perform its obligations under the terms of this Agreement. All action on the part of the Company necessary for the authorization, execution, delivery and performance by the Company of this Agreement, and the consummation of the transactions contemplated hereby, has been taken. This Agreement constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms. The execution and delivery of this Agreement and the consummation of the transactions provided for herein or contemplated hereby, including all terms of the repurchase, have been approved by the Board at a meeting held on April 25, 2007. M▇. ▇▇▇▇▇▇▇ ▇. Crawford did not attend such meeting and M▇. ▇▇▇▇ ▇▇▇ Wolters and Messrs. P. C▇▇▇▇ ▇▇▇▇▇, Jr. and R▇▇▇▇▇ ▇. ▇▇▇ III participated in, but did not vote at, such meeting.
Authorization; Power. The execution and delivery by it of, and the performance by it under, the Operative Documents to which it is a party and the purchase of the Note and the Warrant issued in favor of it have been duly authorized by all requisite action, and it has the full right, power and authority to enter into, and perform its obligations under, this Agreement.
Authorization; Power. Dragon Lead has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder. The execution and delivery of each of the Transaction Documents by Dragon Lead and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of Dragon Lead and no further action is required by Dragon Lead in connection therewith. Each Transaction Document has been (or upon delivery will have been) duly executed by Dragon Lead and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of Dragon Lead enforceable against Dragon Lead in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.
Authorization; Power. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder. The execution and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company in connection therewith. Each Transaction Document has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.
Authorization; Power. Such Investor has the requisite power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder. The execution and delivery of each of the Transaction Documents by such Investor and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary corporate action on the part of the Investor or, if such Investor is not a corporation, such partnership, limited liability company or other applicable like action, on the part of such Investor and no further action is required by the Investor in connection therewith. Each of this Agreement and the Registration Rights Agreement has been duly executed by such Investor, and when delivered by such Investor in accordance with the terms hereof and thereof, will constitute the valid and legally binding obligation of such Investor, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.
Authorization; Power. Wuhan Kingold has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder.
Authorization; Power. The Lender has all requisite legal power and authority to execute, deliver and perform this Agreement and the Related Agreements to which it is a party. The Lender has taken all necessary action for the authorization, execution, delivery and performance of this Agreement and the Related Agreements and the consummation of the transactions contemplated thereby. This Agreement and the Related Agreements are legal, valid and binding obligations of the Lender, which are enforceable against the Lender in accordance with their terms.
Authorization; Power. Purchaser has all requisite power and authority to execute, deliver and perform this Agreement and any Related Agreements to which it is a party. Such Purchaser has taken all necessary action for the authorization, execution, delivery and performance of this Agreement and any Related Agreements and the consummation of the transactions contemplated hereby and thereby. This Agreement and any Related Agreements are legal, valid and binding obligations of such Purchaser, which are enforceable against such Purchaser in accordance with their terms.
Authorization; Power. The Company has all requisite corporate power to enter into this Agreement, and to carry out and perform its obligations under the terms of this Agreement. All action on the part of the Company necessary for the authorization, execution, delivery and performance by the Company of this Agreement, and the consummation of the transactions contemplated hereby, has been taken. This Agreement constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms.
Authorization; Power. Such Purchaser has the requisite power and authority to enter into this Agreement and the Registration Rights Agreement and to perform its obligations hereunder and thereunder, including without limitation, to purchase the Shares being sold to it hereunder. The execution and delivery of this Agreement and the Registration Rights Agreement by such Purchaser, and the performance by the Purchaser of its obligations hereunder and thereunder, including the consummation by it of the transactions contemplated hereby and thereby, have been duly authorized by all necessary corporate or partnership action, and no further consent or authorization of such Purchaser or its Board of Directors, stockholders, or partners, as the case may be, is required. This Agreement has been duly executed and delivered by such Purchaser. The Registration Rights Agreement will have been duly executed and delivered by such Purchaser at the Closing. Assuming the due authorization, execution and delivery hereof and thereof by the other parties hereto and thereto, this Agreement constitutes, and the Registration Rights Agreement shall constitute when executed and delivered, a valid and binding obligation of the Purchaser enforceable against such Purchaser in accordance with its terms, except as the foregoing may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium, or other similar laws relating to or affecting generally the rights of creditors or by other equitable principles including those limiting the availability of specific performance, injunctive relief, and other equitable remedies.