Common use of Binding Obligations; Perfected Liens Clause in Contracts

Binding Obligations; Perfected Liens. (a) Each Loan Document has been duly executed and delivered by each Primary Obligor that is a party thereto and is the legally valid and binding obligation of such Primary Obligor, enforceable against such Primary Obligor in accordance with its respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally.