Common use of Representations of the City Clause in Contracts

Representations of the City. The City hereby represents to the Authority that: (A) The City is duly authorized, created, and validly existing under the laws of the State of Texas. (B) The City has the power, authority, and legal right to enter into and perform the obligations set forth in this Agreement, and the execution, delivery, and performance hereof (a) have been duly authorized, (b) will not, to the best of the City’s knowledge, violate any judgment, order, law, or regulation applicable to the City or any provisions of the City’s organizational documents, and (c) do not constitute a default under or result in the creation of, any lien, charge, encumbrance, or security interest upon any assets of the City under any agreement or instrument to which the City is a party or by which the City or its assets may be bound or affected. (C) The City will have sufficient capital to perform its obligations under this Agreement at the time it needs to have sufficient capital. (D) This Agreement has been duly authorized, executed, and delivered and constitutes a legal, valid, and binding obligation of the City, enforceable in accordance with its terms except to the extent that (a) the enforceability of such instruments may be limited by bankruptcy, reorganization, insolvency, moratorium, or other similar laws of general application in effect from time to time relating to or affecting the enforcement of creditors’ rights and (b) certain equitable remedies including specific performance may be unavailable.

Representations of the City. The City hereby represents to the Authority that: (A) The City is duly authorized, created, and validly existing under the laws of the State of Texas. (B) The City has the power, authority, and legal right to enter into and perform the obligations set forth in this Agreement, and the execution, delivery, and performance hereof (a) have been duly authorized, ; (b) will not, to the best of the City’s knowledge, violate any judgment, order, law, or regulation applicable to the City or any provisions of the City’s organizational documents, ; and (c) do not constitute a default under or result in the creation of, any lien, charge, encumbrance, or security interest upon any assets of the City under any agreement or instrument to which the City is a party or by which the City or its assets may be bound or affected. (C) The City will have sufficient capital to perform its obligations under this Agreement at the time it needs to have sufficient capital. (D) This Agreement has been duly authorized, executed, and delivered and constitutes a legal, valid, and binding obligation of the City, enforceable in accordance with its terms except to the extent that (a) the enforceability of such instruments may be limited by bankruptcy, reorganization, insolvency, moratorium, or other similar laws of general application in effect from time to time relating to or affecting the enforcement of creditors’ rights rights; and (b) certain equitable remedies including specific performance may be unavailable.