Common use of Authorization; Execution and Validity Clause in Contracts

Authorization; Execution and Validity. This Agreement has been duly authorized, executed and delivered by Transferor and constitutes the legal, valid and binding obligation of Transferor, enforceable against it in accordance with its terms except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally and by general principles of equity.