Common use of Representations by the Authority Clause in Contracts

Representations by the Authority. The Authority represents to each of the Sponsors that: (a) Pursuant to the Act, the Authority is declared to be and is performing a public function and is existing under laws of the State with lawful power and authority to execute, deliver and perform the terms and obligations of this Agreement. Accordingly, this Agreement constitutes the legal, valid and binding obligation of the Authority, enforceable in accordance with its terms. (b) The Agreement Resolution has been duly adopted by the Authority and the same has not been modified, amended or repealed. (c) The execution and delivery of this Agreement by the Authority will not result in a breach of any of the terms of, or constitute a default under, any indenture, mortgage, deed of trust, lease or other agreement or instrument to which the Authority is a party or by which it or any of its property is bound or its bylaws or any of the constitutional or statutory rules or regulations applicable to the Authority or its property.