Common use of Authority, Validity and Binding Effect Clause in Contracts

Authority, Validity and Binding Effect. Borrower has the power to make, deliver and perform under the Loan Documents, and to borrow and grant Liens in the Collateral hereunder, and has taken all necessary and appropriate action to authorize the execution, delivery and performance of the Loan Documents. This Agreement constitutes, and the remainder of the Loan Documents, when executed and delivered for value received, will constitute, the valid obligations of Borrower, legally binding upon it and enforceable against it in accordance with their respective terms. The undersigned representatives of Borrower are duly authorized and empowered to execute, attest and deliver this Agreement and the remainder of the Loan Documents for and on behalf of Borrower, and to bind Borrower accordingly thereby.