Common use of Execution and Enforceability Clause in Contracts

Execution and Enforceability. The execution and delivery of this Agreement by Randgold and the performance by Randgold of its obligations hereunder have been duly authorized and no other corporate proceedings on the part of Randgold are necessary to authorize this Agreement and the performance of its obligations hereunder. This Agreement has been duly executed and delivered by Randgold and constitutes a legal, valid and binding obligation, enforceable by the Shareholder against Randgold in accordance with its terms, subject, however, to limitations imposed by Law in connection with bankruptcy, insolvency or similar proceedings and to the extent that the award of equitable remedies such as specific performance and injunction is within the discretion of the court from which they are sought.