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

Corporate Power and Authority; Validity. Each Credit Party has the corporate power and authority to execute, deliver and carry out the terms and provisions of the Credit Documents to which it is a party and to consummate the transactions contemplated hereby and has taken all necessary corporate action to authorize the execution, delivery and performance of such Credit Documents and to consummate the transactions contemplated hereby. Each Credit Party has duly executed and delivered each Credit Document to which it is a party and each such Credit Document constitutes the legal, valid and binding obligation of such Credit Party enforceable against it in accordance with its terms, subject as to enforcement only to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and equitable principles.

Corporate Power and Authority; Validity. Each Credit Party has the corporate power and authority to execute, deliver and carry out the terms and provisions of the Credit Financing Documents to which it is a party and to consummate the transactions contemplated hereby and has taken all necessary corporate action (or comparable action, in the case of a Credit Party that is not a corporation) to authorize the execution, delivery and performance of such Credit Documents and to consummate the transactions contemplated herebyFinancing Documents. Each Credit Party has duly executed and delivered each Credit Financing Document to which it is a party and each such Credit Financing Document constitutes the legal, valid and binding obligation of such Credit Party enforceable against it in accordance with its terms, subject as to enforcement only to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and equitable principles.

Corporate Power and Authority; Validity. Each Credit Party --------------------------------------- has the corporate power and authority to execute, deliver and carry out the terms and provisions of the Credit Documents to which it is a party and to consummate the transactions contemplated hereby and has taken all necessary corporate action (or comparable action, in the case of a Credit Party that is not a corporation) to authorize the execution, delivery and performance of such Credit Documents and to consummate the transactions contemplated herebyDocuments. Each Credit Party has duly executed and delivered each Credit Document to which it is a party and each such Credit Document constitutes the legal, valid and binding obligation of such Credit Party enforceable against it in accordance with its terms, subject as to enforcement only to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and equitable principlesgenerally.