Common use of Authorization; Enforceable Obligations Clause in Contracts

Authorization; Enforceable Obligations. Its execution and delivery of this Agreement and the other Transaction Documents to which it is a party have been duly authorized by all necessary action, and this Agreement is and such other Transaction Documents, when executed, will constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency, liquidation, reorganization or other laws of general application relating to or affecting the rights of creditors and to general principles of equity.

Authorization; Enforceable Obligations. Its execution and delivery of this This Agreement and the other Transaction Documents to which it the Lender is a party have been duly authorized executed and delivered by all necessary action, the Lender and this Agreement is and such other Transaction Documents, when executed, will constitute its legal, valid and binding obligationsobligations of the Lender, enforceable against him in accordance with their respective terms, subject to except that such enforceability may be limited by applicable bankruptcy, insolvency, liquidationreorganization, reorganization or other moratorium, fraudulent conveyance and transfer and similar laws of general application relating to or affecting the rights and remedies of creditors and to general principles of equitycreditors.