Authority Capacity and Enforceability Clause Samples
The "Authority, Capacity and Enforceability" clause confirms that each party entering into the agreement has the legal power and proper authorization to do so, and that the agreement is valid and binding upon them. In practice, this means that individuals signing on behalf of a company or organization have been duly empowered to act, and that the agreement will be recognized and enforceable under applicable law. This clause serves to prevent disputes over whether a party was properly authorized or whether the contract is legally effective, thereby ensuring the reliability and enforceability of the agreement.
Authority Capacity and Enforceability. Seller has all requisite power and authority to enter into, deliver and perform under this Option Purchase Agreement and any other agreement or document necessary to perform under this Option Purchase Agreement (collectively, the “Closing Documents”) and to consummate the transactions described in this Option Purchase Agreement, and that the person signing this Purchase Agreement and the Closing Documents on behalf of Seller is duly authorized by Seller to do so. Assuming the due authorization, execution and delivery by the Buyer, this Option Purchase Agreement constitutes, and each other agreement or document executed and delivered at or in connection with the Closing by the Seller will constitute, the legal, valid and binding obligation of the Seller and be enforceable against the Seller in accordance with its terms.
Authority Capacity and Enforceability. Temroc has all requisite corporate power and authority to enter into, deliver and perform this Agreement and any other agreement or document necessary to perform this Agreement and to consummate the Merger and other transactions described in this Agreement. This Agreement has been duly executed and delivered by Temroc pursuant to all necessary corporate action. Assuming the due authorization, execution and delivery by Parent and Sub, this Agreement constitutes the legal, valid and binding obligation of Temroc, enforceable against Temroc in accordance with its terms, except as may be limited by principles of equity or bankruptcy, insolvency, reorganization, moratorium or similar laws or judicial decisions relating to or affecting the enforcement of creditors' rights or equitable remedies.
Authority Capacity and Enforceability