Common use of Authorization; Validity; Effect of Agreement Clause in Contracts

Authorization; Validity; Effect of Agreement. (a) The Target REIT has all requisite power, authority and legal right to enter into this Agreement and to consummate the Mergers. The execution and delivery of this Agreement by the Target REIT and, subject to the approval of this Agreement by its Target REIT Stockholders, the consummation by the Target REIT of its Merger have been duly authorized by all necessary corporate action on the part of the Target REIT, and this Agreement is a legal, valid and binding obligation of the Target REIT, enforceable against the Target REIT in accordance with its terms.

Authorization; Validity; Effect of Agreement. (a) The Target REIT has all requisite power, authority and legal right to enter into this Agreement and to consummate the MergersMerger. The execution and delivery of this Agreement by the Target REIT and, subject to the approval of this Agreement by its the Target REIT StockholdersREIT’s stockholders, the consummation by the Target REIT of its the Merger have been duly authorized by all necessary corporate action on the part of the Target REIT, and this Agreement is a legal, valid and binding obligation of the Target REIT, enforceable against the Target REIT in accordance with its terms.

Authorization; Validity; Effect of Agreement. (a) The Target REIT has all requisite power, authority and legal right to enter into this Agreement and to consummate the Mergers. The execution and delivery of this Agreement by the Target REIT and, subject to the approval of this Agreement by its Target REIT Stockholders, the consummation by the Target REIT of its Merger have been duly authorized by all necessary corporate action on the part of the Target REIT, and this Agreement is a legal, valid and binding obligation of the Target REIT, enforceable against the Target REIT in accordance with its terms.