Common use of Power to Act Clause in Contracts

Power to Act. Borrower and each Domestic Subsidiary has the requisite power to make, execute and perform the Loan Documents executed by them, and all such instruments will constitute the legal, valid and binding obligations of the Borrower and Domestic Subsidiaries, enforceable in accordance with their respective terms, subject only to the Borrower’s, or Domestic Subsidiaries' bankruptcy, insolvency, reorganization, or other similar laws relating to or staying the enforcement of remedies of creditors generally, and the effect of rules of law governing, or practices of courts with respect to, specific enforcement, injunctive relief and other equitable remedies generally.

Power to Act. Borrower and each Active Domestic Subsidiary has the requisite power to make, make execute and perform the Loan Documents executed by them, and all such instruments will constitute the legal, valid and binding obligations of the Borrower and Active Domestic Subsidiaries, enforceable in accordance with their respective terms, subject only to the Borrower’s, or Active Domestic Subsidiaries' bankruptcy, insolvency, reorganization, or other similar laws relating to or staying the enforcement of remedies of creditors generally, and the effect of rules of law governing, or practices of courts with respect to, specific enforcement, injunctive relief and other equitable remedies generally.