Common use of Execution and Binding Effect Clause in Contracts

Execution and Binding Effect. This Agreement and all other Loan Documents have been or, when executed and delivered, will be duly and validly executed and delivered by each Loan Party a party thereto, and constitute or, when executed and delivered, will constitute, the legal, valid and binding obligations of such Loan Party enforceable in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting creditors’ rights generally and by general principles of equity.

Appears in 3 contracts

Samples: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)

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Execution and Binding Effect. This Agreement Agreement, the Notes and all other Loan Documents have been or, when executed and delivered, or will be duly and validly executed and delivered by each Loan Party a party theretoParty, and constitute or, when executed and delivered, will constitute, the legal, valid and binding obligations of such Loan Party enforceable in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting creditors' rights generally and by general principles of equitygenerally.

Appears in 2 contracts

Samples: Loan and Security Agreement (Us Lec Corp), Loan and Security Agreement (Us Lec Corp)

Execution and Binding Effect. This Agreement and all other Loan Documents have been or, when executed and delivered, will be duly and validly executed and delivered by each Loan Party Borrower Group Member a party thereto, and constitute or, when executed and delivered, will constitute, the legal, valid and binding obligations of such Loan Party Borrower Group Member enforceable in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting creditors' rights generally and by general principles of equity.

Appears in 1 contract

Samples: Loan Agreement (Prime Retail Inc/Bd/)

Execution and Binding Effect. This Agreement has been duly executed and all delivered and is, and each other Loan Documents have been orDocument, when executed and delivereddelivered -36- 43 hereunder, will be have been duly and validly executed and delivered by each Loan Party a party thereto, and constitute or, when executed and delivered, will constitutebe, the legal, valid and binding obligations obligation of each Loan Party that is a party thereto, enforceable against such Loan Party enforceable in accordance with their respective its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting creditors’ rights generally and by general principles of equity.

Appears in 1 contract

Samples: Financing Agreement (Coram Healthcare Corp)

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Execution and Binding Effect. This Agreement Agreement, the Notes and all other Loan Documents have been or, when executed and delivered, or will be duly and validly executed and delivered by each Loan Party a party theretoParty, and constitute or, when executed and delivered, will constitute, the legal, valid and binding obligations of such Loan Party enforceable in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting creditors’ rights generally and by general principles of equity.Party

Appears in 1 contract

Samples: Loan and Security Agreement (Us Xchange LLC)

Execution and Binding Effect. This Agreement Agreement, the Notes and all other Loan Documents have been or, when executed and delivered, or will be duly and validly executed and delivered by each Loan Party a party theretoParty, and constitute or, when executed and delivered, will constitute, the legal, valid and binding obligations of such Loan Party enforceable in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting creditors' rights generally and by general principles of equity.

Appears in 1 contract

Samples: Loan and Security Agreement (Eschelon Telecom Inc)

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