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The execution, delivery and performance of this Agreement and such Transaction Agreements and the consummation of the transactions contemplated hereby and thereby have been duly, validly and unanimously authorized and approved by the board of directors or equivalent governing body of the applicable Acquiror Party and, no other corporate or equivalent proceeding on the part of any Acquiror Party is necessary to authorize this Agreement or such Transaction Agreements or any Acquiror Party\u2019s performance hereunder or thereunder. By Acquiror\u2019s execution and delivery hereof, it has provided all approvals on behalf of equityholders of Pubco, Corp Merger Sub and LLC Merger Sub required for the Transactions. This Agreement has been, and each such Transaction Agreement to which such Acquiror Party is or will be a party has been or will be, duly and validly executed and delivered by such Acquiror Party and, assuming due authorization and execution by each other Party hereto and thereto, this Agreement constitutes, and each such Transaction Agreement to which such Acquiror Party is or will be a party, constitutes or will constitute a legal, valid and binding obligation of such Acquiror Party, enforceable against each Acquiror Party in accordance with its terms, subject to the Enforceability Exceptions.\n(b) Assuming a quorum is present at the Special Meeting, as adjourned or postposed, the only votes of any of Acquiror\u2019s members necessary in connection with the consummation of the Transactions, including the Closing, and the approval of the Acquiror Shareholder Matters are as set forth on Section 6.02(b) of the Acquiror Disclosure Letter (such votes, collectively, the \u201cAcquiror Shareholder Approval\u201d).\n(c) At a meeting duly called and held, the board of directors of Acquiror has unanimously: (i) determined that this Agreement and the Transactions are fair to and in the best interests of the Acquiror Shareholders; (ii) determined that the fair market value of the Company is equal to at least 80% of the amount held in the Trust Account (less any deferred underwriting commissions and taxes payable on interest earned) as of the date hereof; (iii) approved the Transactions as a Business Combination; and (iv) resolved to recommend to the stockholders of Acquiror approval of the Transactions.", "samples": [{"hash": "gmpvFniDYaf", "uri": "/contracts/gmpvFniDYaf#due-authorization", "label": "Merger Agreement (KORE Group Holdings, Inc.)", "score": 32.9178657532, "published": true}, {"hash": "ewfTug8dhSS", "uri": "/contracts/ewfTug8dhSS#due-authorization", "label": "Merger Agreement (KORE Group Holdings, Inc.)", "score": 32.7864494324, "published": true}, {"hash": "2jI4PYTCxe5", "uri": "/contracts/2jI4PYTCxe5#due-authorization", "label": "Merger Agreement (Cerberus Telecom Acquisition Corp.)", "score": 32.1923332214, "published": true}], "hash": "b8755b6895d7b371ee6e8ffb9c213d57", "id": 6}, {"snippet_links": [{"key": "the-company", "type": "definition", "offset": [0, 11]}, {"key": "each-of-the-guarantors", "type": "clause", "offset": [16, 38]}, {"key": "full-right", "type": "definition", "offset": [44, 54]}, {"key": "authority-to-execute-and-deliver", "type": "clause", "offset": [66, 98]}, {"key": "this-agreement", "type": "clause", "offset": [99, 113]}, {"key": "the-securities", "type": "clause", "offset": [115, 129]}, {"key": "the-indenture", "type": "clause", "offset": [131, 144]}, {"key": "the-exchange-securities", "type": "clause", "offset": [191, 214]}, {"key": "the-registration-rights-agreement", "type": "clause", "offset": [219, 252]}, {"key": "respective-obligations", "type": "clause", "offset": [318, 340]}, {"key": "action-required", "type": "definition", "offset": [375, 390]}, {"key": "proper-authorization", "type": "clause", "offset": [419, 439]}, {"key": "delivery-of", "type": "clause", "offset": [455, 466]}, {"key": "the-transaction-documents", "type": "clause", "offset": [475, 500]}, {"key": "contemplated-thereby", "type": "clause", "offset": [542, 562]}], "size": 190, "snippet": "The Company and each of the Guarantors have full right, power and authority to execute and deliver this Agreement, the Securities, the Indenture (including each Guarantee set forth therein), the Exchange Securities and the Registration Rights Agreement (collectively, the \u201cTransaction Documents\u201d) and to perform their respective obligations hereunder and thereunder; and all action required to be taken for the due and proper authorization, execution and delivery of each of the Transaction Documents and the consummation of the transactions contemplated thereby has been duly and validly taken.", "samples": [{"hash": "BY9OtHYX6e", "uri": "/contracts/BY9OtHYX6e#due-authorization", "label": "Purchase Agreement (Oasis Petroleum Inc.)", "score": 22.0869274139, "published": true}, {"hash": "kS3M1n8xIlA", "uri": "/contracts/kS3M1n8xIlA#due-authorization", "label": "Purchase Agreement (Rosetta Resources Inc.)", "score": 21.2792606354, "published": true}, {"hash": "2SnR4NGqnEU", "uri": "/contracts/2SnR4NGqnEU#due-authorization", "label": "Purchase Agreement (National Credit & Guaranty CORP)", "score": 21.0, "published": true}], "hash": "0716d66ab92ad4f2aa2a5b499215c5a3", "id": 9}, {"snippet_links": [{"key": "duly-authorized", "type": "clause", "offset": [7, 22]}, {"key": "all-necessary-action", "type": "clause", "offset": [27, 47]}, {"key": "execution-and-delivery-of-this-agreement", "type": "clause", "offset": [65, 105]}, {"key": "consummation-of-the-transactions", "type": "clause", "offset": [114, 146]}, {"key": "contemplated-by-this-agreement", "type": "clause", "offset": [163, 193]}], "size": 237, "snippet": "It has duly authorized, by all necessary action on its part, the execution and delivery of this Agreement and the consummation of the transactions provided for or contemplated by this Agreement.", "samples": [{"hash": "bUv42ZaoMC8", "uri": "/contracts/bUv42ZaoMC8#due-authorization", "label": "Backup Servicing Agreement (Carvana Receivables Depositor LLC)", "score": 34.1731681824, "published": true}, {"hash": "g7dyB68xT5H", "uri": "/contracts/g7dyB68xT5H#due-authorization", "label": "Backup Servicing Agreement (Carvana Auto Receivables Trust 2024-P2)", "score": 33.4476394653, "published": true}, {"hash": "8HBFokoIejH", "uri": "/contracts/8HBFokoIejH#due-authorization", "label": "Backup Servicing Agreement (Carvana Auto Receivables Trust 2024-P2)", "score": 33.4284744263, "published": true}], "hash": "7e687b46b09a3d2e0033ba1944bbc148", "id": 7}, {"snippet_links": [{"key": "such-party", "type": "clause", "offset": [0, 10]}, {"key": "duly-formed", "type": "clause", "offset": [14, 25]}, {"key": "in-good-standing", "type": "definition", "offset": [30, 46]}, {"key": "as-of-the-effective-date", "type": "clause", "offset": [47, 71]}, {"key": "the-execution", "type": "clause", "offset": [77, 90]}, {"key": "performance-of-this-agreement", "type": "clause", "offset": [105, 134]}, {"key": "authorized-by", "type": "definition", "offset": [164, 177]}, {"key": "all-necessary-action", "type": "clause", "offset": [178, 198]}], "size": 179, "snippet": "Such party is duly formed and in good standing as of the Effective Date, and the execution, delivery and performance of this Agreement by such party have been duly authorized by all necessary action on the part of such party.", "samples": [{"hash": "g2cvLfz8ixJ", "uri": "/contracts/g2cvLfz8ixJ#due-authorization", "label": "Trademark License Agreement (Investcorp US Private Credit BDC II)", "score": 35.0109519958, "published": true}, {"hash": "jERqeLQXCGE", "uri": "/contracts/jERqeLQXCGE#due-authorization", "label": "Trademark License Agreement (Crestline Lending Solutions, LLC)", "score": 34.8412055969, "published": true}, {"hash": "fqKCpg9NCY7", "uri": "/contracts/fqKCpg9NCY7#due-authorization", "label": "Trademark License Agreement (CAIS Sports, Media & Entertainment Fund)", "score": 34.7672843933, "published": true}], "hash": "116af3208a5bd844366ff7575cbbf686", "id": 10}], "next_curs": "CloSVGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjYLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhpkdWUtYXV0aG9yaXphdGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["authority", "Authority"], ["due-authorization", "Due Authorization"], ["partnerships", "Partnerships"], ["representatives", "Representatives"], ["no-violation-or-default", "No Violation or Default"]], "size": 18258, "title": "Due Authorization", "parents": [["representations-and-warranties", "Representations and Warranties"], ["representations-and-warranties-of-the-company", "Representations and Warranties of the Company"], ["miscellaneous", "Miscellaneous"], ["representations-and-warranties-of-seller", "REPRESENTATIONS AND WARRANTIES OF SELLER"], ["organization-and-good-standing", "Organization and Good Standing"]], "id": "due-authorization", "related": [["due-authorization-etc", "Due Authorization, etc", "<strong>Due Authorization</strong>, etc"], ["due-authorization-no-conflict", "Due Authorization; No Conflict", "<strong>Due Authorization</strong>; No Conflict"], ["due-authorization-no-conflicts", "Due Authorization; No Conflicts", "<strong>Due Authorization</strong>; No Conflicts"], ["due-authorization-and-issuance", "Due Authorization and Issuance", "<strong>Due Authorization</strong> and Issuance"], ["organization-due-authorization", "Organization; Due Authorization", "Organization; <strong>Due Authorization</strong>"]], "related_snippets": [], "updated": "2026-05-08T06:30:32+00:00", "also_ask": ["What evidence is required to prove due authorization in court?", "How can parties allocate risk if due authorization is later challenged?", "What are the must-have representations or warranties for due authorization?", "How does due authorization differ across jurisdictions or entity types?", "What negotiation leverage exists if one party\u2019s due authorization is questionable?"], "drafting_tip": "Specify the authority required to bind each party to ensure enforceability; require written evidence of authorization to prevent disputes; clarify consequences of lacking authorization to deter unauthorized commitments.", "explanation": "The Due Authorization clause confirms that each party entering into the agreement has the legal power and proper internal approvals to do so. In practice, this means that the individuals signing the contract on behalf of a company or organization have been duly authorized by their governing bodies, such as a board of directors or management, to bind the entity to the contract\u2019s terms. This clause helps prevent disputes over the validity of the agreement by ensuring that all parties have the requisite authority, thereby reducing the risk of unenforceable contracts due to lack of proper authorization."}, "json": true, "cursor": ""}}