Common use of Valid Authority Clause in Contracts

Valid Authority. Contractor represents and warrants that it is a corporation duly organized, validly existing and in good standing under the laws of the state of Contractor’s jurisdiction or organization; is in good standing and duly licensed and qualified to transact business as a domestic or foreign corporation in the state, province, region and/or country in which the Project is located; and has full corporate power and authority to enter into and perform this Agreement. Contractor further represents that execution, delivery and performance of this Agreement by Contractor has been duly authorized by all necessary corporate actions of Contractor and that this Agreement constitutes the legal, valid and binding obligation of Contractor, is fully enforceable against Contractor in accordance with the terms of this Agreement, will not violate any judgment, Law, article of incorporation or by-law and will not cause or constitute a default under any lien, charge, encumbrance or security interest upon any assets of Contractor. Contractor’s license number, if required, is the license number set forth in Section 1.4 of the Key Terms Cover Sheet.