Common use of Binding and Enforceable Clause in Contracts

Binding and Enforceable. This Agreement is, and each other Loan Document to which any Loan Party will be a party is or when delivered will be, legal, valid and binding obligations of the Loan Parties enforceable against the Loan Parties in accordance with their respective terms, subject to laws generally affecting the enforcement of creditors' rights.

Appears in 4 contracts

Sources: Revolving Credit and Term Loan Agreement (Integrated Health Services Inc), Revolving Credit Agreement (Integrated Health Services Inc), Credit Agreement (Ocular Sciences Inc /De/)

Binding and Enforceable. This Agreement isconstitutes, and each other Loan Document to which any Loan Party upon execution will be constitute, a party is or when delivered will be, legal, valid and binding obligations obligation of the each Loan Parties Party party thereto, enforceable against the each such Loan Parties Party in accordance with their respective terms, its terms subject to applicable bankruptcy, insolvency, reorganization or similar laws generally affecting the enforcement of creditors' rights’ rights generally and to general principles of equity.

Appears in 2 contracts

Sources: Credit Agreement (Mirant Corp), Credit Agreement (Rri Energy Inc)

Binding and Enforceable. This Agreement isconstitutes, and each other Loan Document to which any Loan Party upon execution will be constitute, a party is or when delivered will be, legal, valid and binding obligations obligation of the each Loan Parties Party party thereto, enforceable against the each such Loan Parties Party in accordance with their respective terms, its terms subject to applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization or similar laws generally affecting the enforcement of creditors' rightsrights generally and to general principles of equity.

Appears in 2 contracts

Sources: Revolving Credit Agreement (NRG Energy, Inc.), Revolving Credit Agreement (Genon Americas Generation LLC)

Binding and Enforceable. This Agreement isconstitutes, and each other Loan Document to which any Loan Party upon execution will be constitute, a party is or when delivered will be, legal, valid and binding obligations obligation of the each Loan Parties Party party thereto, enforceable against the each such Loan Parties party in accordance with their respective its terms, subject to except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws generally affecting the enforcement of creditors' rights’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).

Appears in 2 contracts

Sources: Credit Agreement (Mirant North America, LLC), Credit Agreement (Mirant Corp)

Binding and Enforceable. This Agreement is, and each other Loan Document to which any Loan Party will be a party is or when delivered will be, be legal, valid and binding obligations of the Loan Parties enforceable against the Loan Parties in accordance with their respective terms, subject to laws generally affecting the enforcement of creditors' rights.

Appears in 2 contracts

Sources: Credit Agreement (Ocular Sciences Inc /De/), Credit Agreement (Ocular Sciences Inc /De/)

Binding and Enforceable. This Subject to the entry of the Orders, this Agreement is, and each other Loan Document to which any Loan Party is or will be a party is or when delivered will be, the legal, valid and binding obligations obligation of the Loan Parties enforceable against the Loan Parties in accordance with their respective terms, subject to laws generally affecting the enforcement of creditors' rights.

Appears in 1 contract

Sources: Secured Super Priority Debtor in Possession Revolving Credit Agreement (Integrated Health Services Inc)

Binding and Enforceable. This Agreement isconstitutes, and each other Loan Finance Document to which any Loan Party upon execution will be constitute, a party is or when delivered will be, legal, valid and binding obligations obligation of the each Loan Parties Party party thereto, enforceable against the each such Loan Parties Party in accordance with their respective its terms, subject to except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws generally affecting the enforcement of creditors' rights’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).

Appears in 1 contract

Sources: Credit Agreement (Mirant Corp)