Common use of Enforceability of Agreement; Failure to Exercise Rights; Arbitration Clause in Contracts

Enforceability of Agreement; Failure to Exercise Rights; Arbitration. Section 5.01. The rights and obligations of the Association, the Administrator and the Recipient under this Agreement shall be valid and enforceable in accordance with their terms notwithstanding the law of any State or political subdivision thereof to the contrary. Neither the Association nor the Administrator nor the Recipient shall be entitled in any proceeding under this Article to assert any claim that any provision of this Agreement is invalid or unenforceable because of any provision of the Articles of Agreement of the Association.

Enforceability of Agreement; Failure to Exercise Rights; Arbitration. Section 5.01. The rights and obligations of the Association, the Administrator Recipient and the Recipient Association under this Agreement shall be valid and enforceable in accordance with their terms notwithstanding the law of any State or political subdivision thereof to the contrary. Neither the Association Recipient nor the Administrator nor the Recipient Association shall be entitled in any proceeding under this Article to assert any claim that any provision of this Agreement is invalid or unenforceable because of any provision of the Articles of Agreement of the Association.

Enforceability of Agreement; Failure to Exercise Rights; Arbitration. Section 5.01. The rights and obligations of the Association, the Administrator Borrower and the Recipient Association under this Agreement shall be valid and enforceable in accordance with their terms notwithstanding the law of any State or political subdivision thereof to the contrary. Neither the Association Borrower nor the Administrator nor the Recipient Association shall be entitled in any proceeding under this Article to assert any claim that any provision of this Agreement is invalid or unenforceable because of any provision of the Articles of Agreement of the Association.

Enforceability of Agreement; Failure to Exercise Rights; Arbitration. Section 5.01. The rights and obligations of the Association, the Administrator Beneficiary and the Recipient Association under this Agreement shall be valid and enforceable in accordance with their terms notwithstanding the law of any State or political subdivision thereof to the contrary. Neither the Association Beneficiary nor the Administrator nor the Recipient Association shall be entitled in any proceeding under this Article to assert any claim that any provision of this Agreement is invalid or unenforceable because of any provision of the Articles of Agreement of the Association.

Enforceability of Agreement; Failure to Exercise Rights; Arbitration. Section 5.01. The rights and obligations of the Association, the Administrator and the Recipient under this Agreement shall be valid and enforceable enforce-able in accordance with their terms notwithstanding the law of any State or political subdivision thereof to the contrary. Neither the Association nor the Administrator nor the Recipient shall be entitled in any proceeding under this Article to assert any claim that any provision of this Agreement is invalid or unenforceable because of any provision of the Articles of Agreement of the Association.

Enforceability of Agreement; Failure to Exercise Rights; Arbitration. Section 5.01. The rights and obligations of the Association, the Administrator and the Recipient under this Agreement shall be valid and enforceable in accordance with their terms notwithstanding the law of any State or political subdivision thereof to the contrary. Neither the Association nor the Administrator nor the Recipient shall be entitled in any proceeding under this Article to assert any claim that any provision of this Agreement is invalid or unenforceable because of any provision of the Articles of Agreement of the AssociationAdministrator.