Binding Obligations; Enforceability Clause Samples
The "Binding Obligations; Enforceability" clause establishes that the parties entering into the agreement are legally bound by its terms and that the agreement is valid and enforceable under applicable law. In practice, this clause typically requires each party to affirm that they have the authority to enter into the contract and that no legal impediments exist to prevent enforcement. Its core function is to ensure that the contract is recognized as legally effective, thereby providing assurance to all parties that the agreement can be upheld in court if necessary.
Binding Obligations; Enforceability. This Amendment, the Credit Agreement (as amended by this Amendment) and the Renewal Notes are valid and legally binding obligations of the Borrower, enforceable in accordance with their respective terms, except as limited by applicable bankruptcy, insolvency or other laws affecting the enforcement of creditors' rights generally.
Binding Obligations; Enforceability. Upon execution and delivery thereof by Borrower, each Loan Document shall constitute the legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with the terms thereof, except as such enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors' rights and except to the extent that the availability of certain equitable remedies such as specific performance and injunctive relief is subject to the discretion of the court before which any proceeding therefor may be brought.
Binding Obligations; Enforceability. This First Amendment and the Credit Agreement (as amended by this First Amendment) are valid and legally binding obligations of the Borrower, enforceable in accordance with their respective terms, except as limited by applicable bankruptcy, insolvency or other laws affecting the enforcement of creditors' rights generally.
Binding Obligations; Enforceability. This Amendment, the Credit Agreement (as amended by this Amendment), and each of the Notes are valid and legally binding obligations of the Borrowers (including GSC, MA and MSERV), enforceable in accordance with their respective terms, except as limited by applicable bankruptcy, insolvency or other laws affecting the enforcement of creditors' rights generally.