Common use of Validity of Obligations Clause in Contracts

Validity of Obligations. The execution and delivery of this Agreement by METALS and NEWCO and the performance of the transactions contemplated herein have been duly and validly authorized by the respective Boards of Directors of METALS and NEWCO and this Agreement has been duly and validly authorized by all necessary corporate action and is a legal, valid and binding obligation of METALS and NEWCO.

Validity of Obligations. The execution and delivery of this Agreement by METALS and NEWCO and the performance of the transactions contemplated herein have been duly and validly authorized by the respective Boards of Directors of METALS and NEWCO and this Agreement has been duly and validly authorized by all necessary corporate action and is a legal, valid and binding obligation of METALS and NEWCO.

Validity of Obligations. The execution and delivery of this Agreement by METALS Metals and NEWCO Newco and the performance of the transactions contemplated herein hereby have been duly and validly authorized by the respective Boards of Directors of METALS Metals and NEWCO Newco and this Agreement has been duly and validly authorized by all necessary corporate action and is a legal, valid and binding obligation of METALS Metals and NEWCONewco.

Validity of Obligations. The execution and delivery of this Agreement by METALS Metals and NEWCO Newco and the performance of the transactions contemplated herein have been duly and validly authorized by the respective Boards of Directors of METALS Metals and NEWCO Newco and this Agreement has been duly and validly authorized by all necessary corporate action and is a legal, valid and binding obligation of METALS Metals and NEWCONewco, enforceable in accordance with its terms.