Common use of Authority; Execution Clause in Contracts

Authority; Execution. Seller has all the requisite power and authority, corporate and otherwise, to execute, deliver and perform its obligations under this Agreement. The execution and delivery of this Agreement, and each of the other instruments of transfer, conveyance and assignment delivered hereunder, have been duly and validly authorized by all necessary corporate and other action on the part of Seller, and this Agreement and each of such other instruments has been duly executed by Seller. This Agreement constitutes the valid and binding agreement of Seller enforceable against Seller in accordance with its respective terms.

Authority; Execution. Seller has all the requisite power and authority, corporate and otherwise, to execute, deliver and perform its obligations under this Option Agreement. The execution and delivery of this Option Agreement, and each of the other instruments of transfer, conveyance and assignment to be delivered hereunder, have been duly and validly authorized by all necessary corporate and other action on the part of Seller, and this Option Agreement has been and each of such other instruments has been to be delivered hereunder will be duly executed by Seller. This Option Agreement constitutes the valid and binding agreement of Seller Seller, enforceable against Seller in accordance with its respective terms.