Common use of TNT Clause in Contracts

TNT. DE represents to the Suechtings that: (i) it has all requisite corporate power and authority to enter into this Agreement and to consummate the transactions contemplated by this Agreement; (ii) the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary corporate action on the part of TNT-DE; and (iii) this Agreement has been duly executed and delivered by TNT-DE and constitutes the legal, valid and binding obligation of TNT-DE enforceable against it in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors' rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.