Common use of Formation; Authority Clause in Contracts

Formation; Authority. Seller is duly formed, validly existing, and in good standing under laws of the state of its formation. Seller has full power and authority to enter into this Agreement and to perform this Agreement. The execution, delivery and performance of this Agreement by Seller have been duly and validly authorized by all necessary action on the part of Seller and all required consents and approvals have been duly obtained. All requisite action has been taken by Seller in connection with the entering into of this Agreement and the instruments referenced herein and the consummation of the transactions contemplated hereby. The individual(s) executing this Agreement and the instruments referenced herein on behalf of Seller have the legal power, right and actual authority to bind Seller to the terms and conditions hereof and thereof.

Formation; Authority. Seller Buyer is duly formed, validly existing, and in good standing under laws of the state of its formation. Seller ▇▇▇▇▇ has full power and authority to enter into this Agreement and to perform this Agreement. The execution, delivery and performance of this Agreement by Seller Buyer have been duly and validly authorized by all necessary action on the part of Seller Buyer and all required consents and approvals have been duly obtained. All requisite action has been taken by Seller ▇▇▇▇▇ in connection with the entering into of this Agreement and the instruments referenced herein and the consummation of the transactions contemplated hereby. The individual(s) executing this Agreement and the instruments referenced herein on behalf of Seller Buyer have the legal power, right and actual authority to bind Seller Buyer to the terms and conditions hereof and thereof.