Power; Binding Effect; Non-Contravention Sample Clauses
The 'Power; Binding Effect; Non-Contravention' clause confirms that each party entering into the agreement has the legal authority and capacity to do so, and that the agreement is legally binding on them. In practice, this clause typically requires each party to affirm that signing the contract does not violate any other agreements, laws, or obligations they are subject to, and that the contract will be enforceable against them and their successors. Its core function is to ensure that all parties are properly empowered to enter the agreement and that no external restrictions will invalidate or conflict with the contract, thereby reducing the risk of future disputes over authority or enforceability.
Power; Binding Effect; Non-Contravention. (a) Each of Stagecoach I and Stagecoach Energy has all requisite right, power and authority (including all requisite approvals and authorizations of its managers and members) to execute and deliver this Agreement, to perform all of its obligations hereunder in accordance with the terms hereof, and to consummate all of the transactions contemplated hereby. This Agreement has been duly executed and delivered by each of Stagecoach I and Stagecoach Energy and, assuming due authorization, execution and delivery by the Purchasers, constitutes a legal, valid and binding agreement of each of Stagecoach I and Stagecoach Energy, enforceable against each of Stagecoach I and Stagecoach Energy in accordance with its terms, subject as to enforcement to bankruptcy, insolvency or similar Laws affecting creditors’ rights generally or by equitable principles relating to the availability of remedies.
(b) The execution and delivery of this Agreement by each of Stagecoach I and Stagecoach Energy, the performance by each of Stagecoach I and Stagecoach Energy of its obligations under this Agreement in accordance with the terms hereof, and the consummation by each of Stagecoach I and Stagecoach Energy of the transactions contemplated hereby, will not conflict with or result (with or without the giving of notice or the lapse of time or both) in any conflict, violation, breach, or default, or the creation of any Lien, or the termination, acceleration, vesting, or modification of any right or obligation, under or in respect of (x) the organizational documents of each of Stagecoach I and Stagecoach Energy, (y) any Law, or (z) any Contracts and Other Agreements or Permits to which either Stagecoach I or Stagecoach Energy is a party or by which either Stagecoach I or Stagecoach Energy or any of their respective assets is or are bound, except as set forth in Schedule 3.2(b) or, in the case of clauses (y) and (z), as would not have a Seller Material Adverse Effect.
Power; Binding Effect; Non-Contravention. (a) The Purchasers have all requisite right, power and authority (including all requisite approvals and authorizations of their managers and members) to execute and deliver this Agreement, to perform all of their obligations hereunder in accordance with the terms hereof, and to consummate all of the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Purchasers and, assuming due authorization, execution and delivery by the Sellers, constitutes a legal, valid and binding agreement of the Purchasers, enforceable against the Purchasers in accordance with its terms, subject as to enforcement to bankruptcy, insolvency or similar Laws affecting creditors’ rights generally or by equitable principles relating to the availability of remedies.
(b) The execution and delivery of this Agreement by the Purchasers, the performance by the Purchasers of their obligations under this Agreement in accordance with the terms hereof, and the consummation by the Purchasers of the transactions contemplated hereby, will not conflict with or result (with or without the giving of notice or the lapse of time or both) in any conflict, violation, breach, or default, or the creation of any Lien, or the termination, acceleration, vesting, or modification of any right or obligation, under or in respect of (x) the organizational documents of the Purchasers, (y) any Law, or (z) any Contracts and Other Agreements or Permits to which the Purchasers are a party or by which the Purchasers or any of the Purchasers’ assets are bound, except as set forth in Schedule 6.2.
Power; Binding Effect; Non-Contravention. (a) Stagecoach II has all requisite right, power and authority (including all requisite approvals and authorizations of its managers and members) to execute and deliver this Agreement, to perform all of its obligations hereunder in accordance with the terms hereof, and to consummate all of the transactions contemplated hereby. This Agreement has been duly executed and delivered by Stagecoach II and, assuming due authorization, execution and delivery by the Purchasers, constitutes a legal, valid and binding agreement of Stagecoach II, enforceable against Stagecoach II in accordance with its terms, subject as to enforcement to bankruptcy, insolvency or similar Laws affecting creditors’ rights generally or by equitable principles relating to the availability of remedies.
(b) The execution and delivery of this Agreement by Stagecoach II, the performance by Stagecoach II of its obligations under this Agreement in accordance with the terms hereof, and the consummation by Stagecoach II of the transactions contemplated hereby, will not conflict with or result (with or without the giving of notice or the lapse of time or both) in any conflict, violation, breach, or default, or the creation of any Lien, or the termination, acceleration, vesting, or modification of any right or obligation, under or in respect of (x) the organizational documents of Stagecoach II, (y) any Law, or (z) any Contracts and Other Agreements or Permits to which Stagecoach II is a party or by which Stagecoach II or any of Stagecoach II’s assets is or are bound, except as set forth in Schedule 4.2(b).