Common use of Agreement Authorized and its Effect on Other Obligations Clause in Contracts

Agreement Authorized and its Effect on Other Obligations. Upon approval of this Agreement by the stockholders of AIX, the consummation of the transactions contemplated hereby will have been duly and validly authorized by all necessary corporate action on the part of AIX, and this Agreement will be a valid and binding obligation of AIX enforceable against AIX (subject to normal equitable principles) in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, debtor relief or similar laws affecting the rights of creditors generally. At the Effective Date, and except as specified in Schedule 2.1.2 [omitted], the consummation of the merger contemplated by this Agreement will not conflict with or result in a violation or breach of any term or provision of, nor constitute a default under (i) the certificate of incorporation or bylaws of AIX or (ii) any obligation, indenture, mortgage, deed of trust, lease, contract or other agreement to which AIX or any of its subsidiaries is a party or by which any of them or their properties are bound, other than such violations, breaches or defaults as could not reasonably be expected to have a Material Adverse Effect on AIX.

Agreement Authorized and its Effect on Other Obligations. Upon approval of this Agreement by the stockholders of AIXITEQ, the consummation of the transactions contemplated hereby will have been duly and validly authorized by all necessary corporate action on the part of AIXITEQ, and this Agreement will be a valid and binding obligation of AIX ITEQ enforceable against AIX ITEQ (subject to normal equitable principles) in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, debtor relief or similar laws affecting the rights of creditors generally. At the Effective Date, Date and except as specified in Schedule 2.1.2 3.1.2 [omitted], the consummation of the merger contemplated by this Agreement will not conflict with or result in a violation or breach of any term or provision of, nor constitute a default under (i) the certificate of incorporation or bylaws of AIX ITEQ or (ii) any obligation, indenture, mortgage, deed of trust, lease, contract or other agreement to which AIX ITEQ or any of its subsidiaries is a party or by which any of them or their properties are bound, other than such violations, breaches or defaults as could not reasonably be expected to have a Material Adverse Effect on AIXITEQ.