Common use of Binding Action Clause in Contracts

Binding Action. Each of Senior Creditor and Subordinated Obligee confirms, represents, warrants and agrees that its officer executing this Agreement is fully and irrevocably authorized to act on its behalf in all respects in connection with this Agreement and the transactions referred to herein and Subordinated Obligee and Finova, respectively, shall have no obligation to inquire as to such authority.

Binding Action. Each of the Senior Creditor Lender and the Subordinated Obligee confirms, represents, warrants and agrees that its officer executing this Agreement is fully and irrevocably authorized to act on its behalf in all respects in connection with this Agreement and the transactions referred to herein and Subordinated Obligee and FinovaSenior Lender, respectively, shall have no obligation to inquire as to such authority.