Common use of MULTIPLE PARTIES; CORPORATE AUTHORITY Clause in Contracts

MULTIPLE PARTIES; CORPORATE AUTHORITY. All obligations of Borrower and Holder under this Agreement shall be joint and several, and all references to Borrower or Holder shall mean each and every Borrower or Holder. This means that each of the persons signing below is responsible for all obligations in this Agreement. Where any one or more of the parties are corporations or partnerships or limited liability companies or limited liability limited partnerships, it is not necessary for Borrower or Holder or Lender to inquire into the powers of any of the parties or of the officers, directors, partners, or agents acting or purporting to act on their behalf.