Common use of Due Authorization; Validity Clause in Contracts

Due Authorization; Validity. The board of directors of Company and each Subsidiary of Company have duly authorized the execution, delivery, and performance of the Loan Papers to be executed by Company and each Subsidiary of Company, as appropriate. Company and each Subsidiary of Company has full legal right, power, and authority to execute, deliver, and perform under the Loan Papers to be executed and delivered by it. The Loan Papers constitute the legal, valid, and binding obligations of Company and each Subsidiary of Company, as appropriate, enforceable in accordance with their terms (subject as to enforcement of remedies to any applicable Debtor Relief Laws).