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13. Valid Authorization. Each person executing this Agreement on behalf of a party <br />hereto represents and warrants that such person is duly and validly authorized to do so on behalf <br />of such party with full right and authority to execute this Agreement and to bind such party with <br />respect to all of its obligations hereunder. <br /> <br />14. Counterparts. This Agreement may be executed in counterparts each of which <br />shall be deemed an original and all of which when taken together constitute one and the same <br />instrument, binding on all of the parties. The signature of any party to any counterpart shall be <br />deemed a signature to, and may be appended to, any other counterpart. <br /> <br /> <br /> <br /> <br /> <br /> <br />\[The Parties Signatures Follow on Separate Pages\] <br /> <br />Subordination Agreement Page 20 <br />6911974v4 <br /> <br />