Common use of Authorizations; Enforceability Clause in Contracts

Authorizations; Enforceability. Each Loan Party has the requisite authority to execute, deliver and perform each of the Loan Documents executed by it. Each of the Loan Documents to which any Loan Party is party has been duly executed and delivered by such Loan Party and constitutes the legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and to general principles of equity, regardless of whether enforcement is sought in a proceeding at law or in equity.

Authorizations; Enforceability. Each Loan Party has the requisite corporate authority to execute, deliver and perform each of the Loan Documents and other Transaction Documents executed by it. Each of the Loan Documents and other Transaction Documents to which any Loan Party is party has been duly executed and delivered by such Loan Party and constitutes the legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and to general principles of equity, regardless of whether enforcement is sought in a proceeding at law or in equity.