Common use of Powers and Authorisations Clause in Contracts

Powers and Authorisations. (i) the Customer has power and authority to own its assets, carry on its business and operations as they are now being conducted and execute and deliver, and perform its obligations under the Security Documents to which it is a party and which constitutes valid and binding obligations of the Customer enforceable in accordance with their respective terms; (ii) this Agreement embodies in writing the entire terms of the agreement and it is hereby declared and confirmed that no warranties, promises, representations, collateral agreements have been made and if, which is denied, that any such warranties, promises, representations or collateral agreements were made they have now lapsed and are superseded by this Agreement and be of no effect whatsoever;