Common use of Corporate Power and Authority; Business Clause in Contracts

Corporate Power and Authority; Business. Each Credit Party and each of its respective Subsidiaries has the requisite corporate or other organizational power and authority to execute, deliver and carry out the terms and provisions of the Documents to which it is a party and has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of the Documents to which it is a party. Each Credit Party and each of its respective Subsidiaries has duly executed and delivered each Document to which it is a party and each such Document constitutes the legal, valid and binding obligation of such Person enforceable in accordance with its terms except as such enforceability may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or similar laws relating to or limiting creditors' rights generally or by equitable principles relating to enforceability (regardless of whether such enforceability is considered in a proceeding in equity or at law).

Corporate Power and Authority; Business. Each Credit Party and each of its respective Subsidiaries has the requisite corporate or other organizational limited liability company power and authority to execute, deliver and carry out the terms and provisions of the Documents to which it is a party and has taken all necessary corporate or other organizational limited liability company action to authorize the execution, delivery and performance of the Documents to which it is a party. Each Credit Party and each of its respective Subsidiaries has duly executed and delivered each Document to which it is a party and each such Document constitutes the legal, valid and binding obligation of such Person enforceable in accordance with its terms except as such enforceability may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or similar laws relating to or limiting creditors' rights generally or by equitable principles relating to enforceability (regardless of whether such enforceability is considered in a proceeding in equity or at law)enforceability.