Common use of Authorization and Execution Clause in Contracts

Authorization and Execution. This Agreement (and all documents contemplated hereby) has been duly authorized by all necessary action on the part of Seller, has been duly executed and delivered by Seller, constitutes the valid and binding agreement of Seller and is enforceable against Seller in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, moratorium or other similar laws affecting creditors’ rights generally or by the principles governing the availability of equitable remedies. The Person executing this Agreement on behalf of Seller, for and on behalf of Seller, has the authority to do so.

Appears in 7 contracts

Samples: Agreement of Purchase and Sale, Agreement of Purchase and Sale (Lodging Fund REIT III, Inc.), Agreement of Purchase and Sale (Lodging Fund REIT III, Inc.)

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Authorization and Execution. This Agreement (and all documents contemplated hereby) has been duly authorized by all necessary action on the part of the Seller, has been duly executed and delivered by the Seller, constitutes the valid and binding agreement of the Seller and is enforceable against the Seller in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, moratorium or other similar laws affecting creditors’ rights generally or by the principles governing the availability of equitable remedies. The Person executing this Agreement on behalf of the Seller, for and on behalf of the Seller, has the authority to do so.

Appears in 3 contracts

Samples: Agreement of Purchase and Sale (Moody National REIT I, Inc.), Agreement of Purchase and Sale (Moody National REIT I, Inc.), Agreement of Purchase and Sale (Moody National REIT I, Inc.)

Authorization and Execution. This Agreement (and all documents contemplated hereby) has been duly authorized by all necessary action on the part of the Seller, has been duly executed and delivered by the Seller, constitutes the valid and binding agreement of the Seller and is enforceable against the Seller in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, moratorium or other similar laws affecting creditors’ rights generally or by the principles governing the availability of equitable remedies. The Person Persons executing this Agreement on behalf of Sellerthe Sellers, for and on behalf of Sellerthe Sellers, has have the authority to do so.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Moody National REIT I, Inc.)

Authorization and Execution. This Agreement (and all documents the other agreements contemplated hereby) has hereby have been duly authorized by all necessary action on the part of each Seller, has have been duly executed and delivered by each such Seller, in each case to the extent a party thereto, and constitutes the valid and binding agreement of each such Seller and is enforceable against Seller in accordance with its termsterms against such Seller, except as such enforcement may be limited by subject to equitable principles and to applicable bankruptcy, insolvency, moratorium or fraudulent conveyance and other similar laws affecting Laws generally applicable to the rights of creditors’ rights generally or by the principles governing the availability of equitable remedies. The Person persons executing this Agreement on behalf of Seller, for and on behalf of Seller, has each Seller have the authority to do so.

Appears in 1 contract

Samples: Purchase and Sale Agreement (CNL Hotels & Resorts, Inc.)

Authorization and Execution. This Agreement (and all documents the other agreements contemplated hereby) has hereby have been duly authorized by all necessary corporate action on the part of Seller, has have been duly executed and delivered by Seller, in each case to the extent a party thereto, and constitutes the valid and binding agreement of Seller and is enforceable against Seller in accordance with its termsterms against Seller, except as such enforcement may be limited by subject to equitable principles and to applicable bankruptcy, insolvency, moratorium or fraudulent conveyance and other similar laws affecting Laws generally applicable to the rights of creditors’ rights generally or by the principles governing the availability of equitable remedies. The Person persons executing this Agreement on behalf of Seller, for and on behalf Seller have been duly authorized under the organizational documents of Seller, has the authority Seller to do so.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Sunstone Hotel Investors, Inc.)

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Authorization and Execution. This Agreement (and all documents contemplated hereby) has been duly authorized by all necessary limited partnership action on the part of the Seller, has been duly executed and delivered by the Seller, constitutes the valid and binding agreement of the Seller and is enforceable against the Seller in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, moratorium or other similar laws affecting creditors’ rights generally or by the principles governing the availability of equitable remedies. The Person executing this Agreement on behalf of the Seller, for and on behalf of the Seller, has the authority to do so.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Moody National REIT II, Inc.)

Authorization and Execution. This Agreement (and all documents the other agreements contemplated hereby) has hereby have been duly authorized by all necessary action on the part of each Seller, has have been duly executed and delivered by each Seller, in each case to the extent a party thereto, and constitutes the valid and binding agreement of each Seller and is enforceable against Seller in accordance with its termsterms against such Seller, except as such enforcement may be limited by subject to equitable principles and to applicable bankruptcy, insolvency, moratorium or fraudulent conveyance and other similar laws affecting Laws generally applicable to the rights of creditors’ rights generally or by the principles governing the availability of equitable remedies. The Person persons executing this Agreement on behalf of Seller, for and on behalf of Seller, has each Seller have the authority to do so.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Strategic Hotel Capital Inc)

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