Common use of Power and Authority of the Bank Clause in Contracts

Power and Authority of the Bank. The Bank has the corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder; the Bank has full corporate power and authority to sell and assign the property to be sold and assigned to and deposited with the Depositor; the Bank has duly authorized such sale and assignment to the Depositor by all necessary action; and the execution, delivery and performance of this Agreement have been duly authorized by the Bank by all necessary corporate action.

Power and Authority of the Bank. The Bank has the corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder; the Bank has full corporate power and authority to sell and assign the property to be sold and assigned to and deposited with the Depositor; the Bank has duly authorized such sale and assignment to the Depositor by all necessary action; and the execution, delivery and performance of this Agreement have been duly authorized by the Bank by all necessary corporate action.