Common use of Capacity; Authorization; Validity Clause in Contracts

Capacity; Authorization; Validity. Bank has all necessary power and authority to (i) execute and enter into this Agreement, and (ii) perform all of the obligations required of Bank under this Agreement and the other documents, instruments and agreements executed by Bank pursuant hereto, subject to any changes required to be made to the Account Documentation as required by Applicable Law or Network Rules upon the acquisition of the Accounts by Bank. The execution and delivery by Bank of this Agreement and all documents, instruments and agreements executed and delivered by Bank pursuant hereto, and the consummation by Bank of the transactions specified herein, have been duly and validly authorized and approved by all necessary corporate action of Bank. This Agreement (A) has been duly executed and delivered by Bank, (B) constitutes the valid and legally binding obligation of Bank, and (C) is enforceable in accordance with its terms (subject to applicable bankruptcy, insolvency, reorganization, receivership or other laws affecting the rights of creditors generally or financial institutions in particular and by general equity principles including those respecting the availability of specific performance).

Capacity; Authorization; Validity. Bank has all necessary power and authority to (i) execute and enter into this Agreement, and (ii) perform all of the obligations required of Bank under this Agreement and the other documents, instruments and agreements executed by Bank pursuant hereto, subject to any changes required to be made to the Account Documentation as required by to comply with Applicable Law or Network Rules upon the acquisition of the Accounts by Bank. The execution and delivery by Bank of this Agreement and all documents, instruments and agreements executed and delivered by Bank pursuant hereto, and the consummation by Bank of the transactions specified herein, have been duly and validly authorized and approved by all necessary corporate action of Bank. This Agreement (A) has been duly executed and delivered by Bank, (B) constitutes the valid and legally binding obligation of Bank, and (C) is enforceable in accordance with its terms (subject to applicable bankruptcy, insolvency, reorganization, receivership or other laws affecting the rights of creditors generally or financial institutions in particular and by general equity principles including those respecting the availability of specific performance).

Capacity; Authorization; Validity. Bank has all necessary power and authority to (i) execute and enter into this Agreement, and (ii) upon approval from the Federal Deposit Insurance Corporation and the Utah Department of Financial Institutions with respect to the transactions contemplated by this Agreement will have all necessary power and authority to perform all of the obligations required of Bank under this Agreement hereunder and the other documents, instruments and agreements relating to the Program and this Agreement executed by Bank pursuant hereto, subject to any changes required to be made to the Account Documentation as required by Applicable Law or Network Rules upon the acquisition of the Accounts by Bank. The execution and delivery by Bank of this Agreement and all documents, instruments and agreements executed and delivered by Bank pursuant hereto, and the consummation by Bank of the transactions specified herein, have been duly and validly authorized and approved by all necessary corporate action of Bank. This Agreement (Ai) has been duly executed and delivered by Bank, (Bii) constitutes the valid and legally binding obligation obligations of Bank, and (Ciii) is enforceable in accordance with its respective terms (subject to applicable bankruptcy, insolvency, reorganization, receivership or other laws affecting the rights of creditors generally or and financial institutions in particular and by general equity principles including including, without limitation, those respecting the availability of specific performance).

Capacity; Authorization; Validity. Bank Each FDS Company has all necessary corporate or similar power and authority to (i) execute and enter into this Agreement, Agreement and (ii) perform all of the obligations required of Bank under this Agreement such FDS Company hereunder and the other documents, instruments and agreements relating to the Program and this Agreement executed by Bank such FDS Company pursuant hereto, subject to any changes required to be made to the Account Documentation as required by Applicable Law or Network Rules upon the acquisition of the Accounts by Bank. The execution and delivery by Bank the FDS Companies of this Agreement and all documents, instruments and agreements executed and delivered by Bank the FDS Companies pursuant hereto, and the consummation by Bank the FDS Companies of the transactions specified herein, have been duly and validly authorized and approved by all necessary corporate action of Bank. This Agreement corporate (Ai) has been duly executed and delivered by Bankthe FDS Companies, (Bii) constitutes the valid and legally binding obligation of Bankthe FDS Companies, and (Ciii) is enforceable in accordance with its terms (subject to applicable bankruptcy, insolvency, reorganization, receivership or other laws affecting the rights of creditors generally or financial institutions in particular and by general equity principles including those respecting the availability of specific performance).