Authorization; Enforceability; Execution. It has the absolute and unrestricted right, power, authority, and capacity to execute and deliver this Agreement and each Operative Document, and to perform its obligations hereunder and thereunder. It has duly 19 authorized, executed, and delivered this Agreement and each Operative Document. This Agreement and each Operative Document constitute the legal, valid, and binding obligation of Purchaser, enforceable against it in accordance with their respective terms, except to the extent bankruptcy, insolvency, reorganization, fraudulent conveyance, or similar laws affect the enforcement of creditors' rights generally. The signatory executing this Agreement and each Operative Document is duly authorized to execute and deliver each such document.