Common use of Representations and Covenants of Each Party Clause in Contracts

Representations and Covenants of Each Party. Each party represents and warrants that: (a) it is authorized to enter into this Agreement and each Activity and to perform its respective Obligations; (b) the Agreement is legal, valid, binding and enforceable against it, except as enforceability may be limited by bankruptcy, moratorium on payment of debt or other laws affecting the rights of creditors generally; and (c) the person who is executing this Agreement on its behalf is duly authorized to sign this Agreement in its name. Each party covenants that at the time it enters into any Activity, it will be authorized to enter into such Activity and to perform its respective Obligations thereunder.