Common use of Authorization, Execution and Delivery of Agreement and Transaction Documents Clause in Contracts

Authorization, Execution and Delivery of Agreement and Transaction Documents. The execution, delivery and performance of this Agreement and the other Transaction Documents by each Seller and the transfer of the Purchased Assets to Purchaser have been duly and validly authorized and approved by all necessary limited liability company action, including approval by such Seller's managing member. This Agreement is, and each of the other Transaction Documents when so executed and delivered will be, a valid and binding obligation of each Seller, enforceable against such Seller in accordance with its terms subject to bankruptcy, insolvency, reorganization, moratorium, or similar Laws affecting creditors' rights generally.

Authorization, Execution and Delivery of Agreement and Transaction Documents. The execution, delivery and performance of this Agreement and the other Transaction Documents by each Seller and the transfer of the Purchased Assets to Purchaser have been duly and validly authorized and approved by all necessary limited liability company corporate action, including approval by such Seller's managing memberBoard of Directors. This Agreement is, and each of the other Transaction Documents when so executed and delivered will be, a valid and binding obligation of each Seller, enforceable against such Seller it in accordance with its terms subject to bankruptcy, insolvency, reorganization, moratorium, or similar Laws affecting creditors' rights generally.