Common use of Authorization; Valid Obligation Clause in Contracts

Authorization; Valid Obligation. All proceedings required to be taken by or on behalf of the Trust to authorize the Trust to make, deliver and carry out the terms of this Agreement will be duly taken prior to the Closing Date. No consent to the execution, delivery and performance of this Agreement will be required from any partner, board of directors, shareholder, creditor, investor, judicial or administrative body, governmental authority or other person, other than any such consent which already has been (or prior to the Closing will have been unconditionally given. The individuals executing this Agreement and the documents referenced herein on behalf of the Trust have the legal power, right and actual authority to bind the Trust to the terms and conditions hereof. This Agreement is a valid and binding obligation of Trust, enforceable in accordance with its terms, except as the same may be affected by bankruptcy, insolvency, moratorium or similar laws, or by legal or equitable principles relating to or limiting the rights of contracting parties generally.

Authorization; Valid Obligation. All proceedings required to be taken by or on behalf of the Trust to authorize the Trust to make, deliver and carry out the terms of this Agreement will be duly taken prior to the Closing Date. No consent to the execution, delivery and performance of this Agreement will be required from any partner, board of directors, 21 22 shareholder, creditor, investor, judicial or administrative body, governmental authority or other person, other than any such consent which already has been (or prior to the Closing will have been unconditionally given. The individuals executing this Agreement and the documents referenced herein on behalf of the Trust have the legal power, right and actual authority to bind the Trust to the terms and conditions hereof. This Agreement is a valid and binding obligation of Trust, enforceable in accordance with its terms, except as the same may be affected by bankruptcy, insolvency, moratorium or similar laws, or by legal or equitable principles relating to or limiting the rights of contracting parties generally.