Common use of Organization and Authority of the Buyer Clause in Contracts

Organization and Authority of the Buyer. The Buyer is a corporation duly organized, validly existing and in good standing under the laws of the Commonwealth of Virginia and has all necessary corporate power and authority to enter into this Agreement and the Buyer’s Closing Documents, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement and the Buyer’s Closing Documents by the Buyer, the performance by the Buyer of its obligations hereunder and thereunder and the consummation by the Buyer of the transactions contemplated hereby and thereby have been duly authorized by all requisite action on the part of the Buyer. This Agreement has been, and upon their execution the Buyer’s Closing Documents will be, duly executed and delivered by the Buyer, and (assuming due authorization, execution and delivery by the Seller) this Agreement constitutes, and upon their execution the Buyer’s Closing Documents will constitute, legal, valid and binding obligations of the Buyer, enforceable against the Buyer in accordance with their respective terms.

Organization and Authority of the Buyer. The Buyer is a corporation duly organized, validly existing and in good standing under the laws of the Commonwealth its jurisdiction of Virginia and Delaware. The Buyer has all necessary full corporate power and authority to enter into this Agreement and the Buyer’s Closing Documentsother Transaction Documents to which it is a party, to carry out its obligations hereunder and thereunder thereunder, and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Buyer of this Agreement and the Buyer’s Closing other Transaction Documents by the Buyerto which it is a party, the performance by the Buyer of its obligations hereunder and thereunder thereunder, and the consummation by the Buyer of the transactions contemplated hereby and thereby have been duly authorized by all requisite action on the part of the Buyercorporate action. This Agreement has been, and upon their execution the Buyer’s Closing Documents will be, been duly executed and delivered by the Buyer, and (assuming the due authorization, execution and delivery by the Seller) this Agreement constitutes, and upon their each Transaction Document when executed and delivered by the Buyer and each Buyer Affiliate party thereto, and, assuming the due authorization, execution and delivery of such Transaction Document by the Buyer’s Closing Documents Seller or its applicable Affiliate, will constitute, a legal, valid valid, and binding obligations obligation of the BuyerBuyer and the applicable Buyer Affiliate, enforceable against the Buyer or such Affiliate, as applicable, in accordance with their respective its terms.

Organization and Authority of the Buyer. The Buyer is a corporation duly organized, validly existing and in good standing under the laws Laws of the Commonwealth jurisdiction of Virginia and its incorporation. The Buyer has all necessary full corporate power and authority to enter into and perform its obligations under this Agreement and the Buyer’s Closing Documents, Ancillary Documents to carry out its obligations hereunder and thereunder which it is a party and to consummate the transactions contemplated hereby and thereby. The execution execution, delivery and delivery of this Agreement and the Buyer’s Closing Documents by the Buyer, the performance by the Buyer of its obligations hereunder this Agreement and thereunder any Ancillary Documents to which it is a party and the consummation by the Buyer of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of the BuyerBuyer and no other corporate proceedings on the part of the Buyer are necessary to authorize the execution, delivery and performance of this Agreement or to consummate the transactions contemplated hereby and thereby. This Agreement has been, and upon their execution the Buyer’s Closing Documents will be, been duly executed and delivered by the Buyer, and (assuming due authorization, execution and delivery by the Sellereach other party hereto) this Agreement constitutes, and upon their execution the Buyer’s Closing Documents will constitute, constitutes a legal, valid and binding obligations obligation of the Buyer, Buyer enforceable against the Buyer it in accordance with their respective its terms.