Common use of Contract Formation and Authority Clause in Contracts

Contract Formation and Authority. 18.1 The submission of this Agreement is not an offer, and this document is effective and binding only upon the execution by duly authorized representatives of both COMPANY and UFRF. Copies of this Agreement that have not been executed and delivered by both UFRF and COMPANY do not evidence an agreement between the parties. UFRF may terminate this Agreement without the requirement of any notice to COMPANY if UFRF does not receive the Option Fee within thirty (30) days of the Effective Date. 18.2 UFRF and COMPANY hereby warrant and represent that the persons signing this Agreement have authority to execute this Agreement on behalf of the party for whom they have signed.

Contract Formation and Authority. 18.1 The submission of this Agreement is not an offer, and this document is effective and binding only upon the execution by duly authorized representatives of both COMPANY and UFRF. Copies of this Agreement that have not been executed and delivered by both UFRF and COMPANY do not evidence an agreement between the parties. UFRF may terminate this Agreement without the requirement of any notice to COMPANY if UFRF does not receive the Option Fee within thirty (30) days of the Effective Date. 18.2 UFRF and COMPANY hereby warrant and represent that the persons signing this Agreement have authority to execute this Agreement on behalf of the party for whom they have signed.. Revised 8/22/2018 - JB A19322