Common use of AUTHORITY APPROVALS Clause in Contracts

AUTHORITY APPROVALS. (i) The execution and delivery of this Agreement by NRGY, the consummation by NRGY of each of the transactions and the performance by NRGY of each of its obligations contemplated hereby have been duly and properly authorized by all necessary partnership action on the part of NRGY. This Agreement has been duly executed and delivered by NRGY and, assuming the accuracy of the representations and warranties of Holdings GP in Section 6 hereof, constitutes the valid and legally binding obligation of NRGY, enforceable against it in accordance with its terms, subject, (A) as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and other similar laws of general applicability relating to or affecting creditors’ rights and to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (B) to equitable principles of general applicability relating to the availability of specific performance, injunctive relief, or other equitable remedies.

AUTHORITY APPROVALS. (i) The execution and delivery of this Agreement by NRGYHoldings GP, the consummation by NRGY Holdings GP of each of the transactions and the performance by NRGY Holdings GP of each of its obligations contemplated hereby have been duly and properly authorized by all necessary partnership limited liability company action on the part of NRGYHoldings GP. This Agreement has been duly executed and delivered by NRGY Holdings GP and, assuming the accuracy of the representations and warranties of Holdings GP NRGY in Section 6 5 hereof, constitutes the valid and legally binding obligation of NRGYHoldings GP, enforceable against it in accordance with its terms, subject, (A) as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and other similar laws of general applicability relating to or affecting creditors’ rights and to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (B) to equitable principles of general applicability relating to the availability of specific performance, injunctive relief, or other equitable remedies.