Common use of Shareholder Authorization Clause in Contracts

Shareholder Authorization. The execution, delivery and performance by the Shareholder of this Agreement and the consummation of the transactions contemplated hereby are within the Shareholder’s power and has been duly authorized by all necessary action. This Agreement constitutes the valid and binding obligation of the Shareholder, and enforceable against the Shareholder in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium or other similar laws of general application affecting the enforcement of creditors’ rights generally.

Shareholder Authorization. The execution, delivery Each Shareholder has full power and performance by the Shareholder of authority to execute and deliver this Agreement and the consummation of the transactions contemplated hereby are within the Shareholder’s power and has been duly authorized by all necessary actionto perform his obligations hereunder. This Agreement constitutes the valid and legally binding obligation of the each Shareholder, and enforceable against the Shareholder in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium or other similar laws of general application affecting the enforcement of creditors’ rights generallyterms and conditions.