Common use of Power and Authority; Due Authorization; Enforceability Clause in Contracts

Power and Authority; Due Authorization; Enforceability. The Servicer has full power and authority to perform its obligations under this Agreement and has duly authorized the performance of its obligations under this Agreement by all necessary action. The Agreement has been duly authorized, executed and delivered by the Servicer and constitutes the legal, valid, binding and enforceable obligation of the Servicer except as the same may be limited by insolvency, bankruptcy, reorganization or other laws relating to or affecting the enforcement of creditors' rights or by general equity principles.