Due Authorization; Enforceability, etc. (i) (x) The Trust Agreement has been duly authorized, executed and delivered by the Trust Company, and (y) assuming the due authorization, execution and delivery of the Trust Agreement by the Owner Participant, the Trust Agreement constitutes the legal, valid and binding obligation of the Trust Company, enforceable against it in its individual capacity or as Owner Trustee, as the case may be, in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, arrangement, moratorium or other laws relating to or affecting the rights of creditors generally and by general principles of equity.
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Samples: Participation Agreement (Midwest Generation LLC), Participation Agreement (Midwest Generation LLC), Participation Agreement (Midwest Generation LLC)
Due Authorization; Enforceability, etc. (i) (xA) The Trust Agreement has been duly authorized, executed and delivered by the Trust Company, and (yB) assuming the due authorization, execution and delivery of the Trust Agreement by the Owner Participant, the Trust Agreement constitutes the legal, valid and binding obligation of the Trust Company, enforceable against it in its individual capacity or as Owner Trustee, as the case may be, in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, arrangement, moratorium or other laws relating to or affecting the rights of creditors generally and by general principles of equity.
Appears in 2 contracts
Samples: Participation Agreement, Participation Agreement (Firstenergy Corp)
Due Authorization; Enforceability, etc. (1) (i) (x) The Trust Agreement has been duly authorized, executed and delivered by the Trust Company, and (yii) assuming the due authorization, execution and delivery of the Trust Agreement by the Owner ParticipantParticipants party thereto, the Trust Agreement constitutes the legal, valid and binding obligation of the Trust Company, enforceable against it in its individual capacity or as Owner Trustee, as the case may be, in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, arrangement, moratorium or other laws relating to or affecting the rights of creditors generally and by general principles of equity.
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