Common use of Authorization, Validity and Effect Clause in Contracts

Authorization, Validity and Effect. Each of Acquiror and Sub has the requisite corporate power and authority to execute and deliver this Agreement and all agreements and documents contemplated hereby to be executed and delivered by it, and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement and such other agreements and documents, and the consummation of the transactions contemplated herein and therein, have been duly and validly authorized by all necessary corporate action in respect thereof on the part of each of Acquiror and Sub. This Agreement has been duly and validly executed and delivered by each of Acquiror and Sub and represents the legal, valid and binding obligation of each of Acquiror and Sub, enforceable against each of them in accordance with its terms.