Common use of Corporate Authorization; Binding Effect Clause in Contracts

Corporate Authorization; Binding Effect. The execution, delivery and performance by Assignor of this Agreement, and all of the other documents and instruments required hereby from Assignor, and the consummation of the transactions contemplated hereby by Assignor, have been duly and validly authorized by all necessary corporate action on the part of Assignor. This Agreement has been duly executed and delivered by Assignor. This Agreement is, and the other documents and instruments required hereby to which Assignor is a party will be, when executed and delivered by the parties thereto, the legal, valid and binding obligations of Assignor, enforceable against Assignor in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles.

Corporate Authorization; Binding Effect. The execution, delivery and performance by Assignor Assignee of this Agreement, and all of the other documents and instruments required hereby from AssignorAssignee, and the consummation of the transactions contemplated hereby by AssignorAssignee, have been duly and validly authorized by all necessary corporate action on the part of AssignorAssignee. This Agreement has been duly executed and delivered by AssignorAssignee. This Agreement is, and the other documents and instruments required hereby to which Assignor Assignee is a party will be, when executed and delivered by the parties thereto, the legal, valid and binding obligations of AssignorAssignee, enforceable against Assignor Assignee in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles.