Common use of Enforceability of Contracts, etc Clause in Contracts

Enforceability of Contracts, etc. (a) No Person that is a party to any contract, agreement, commitment or plan to which HT is a party has a valid defense, on account of non-performance or malfeasance by HT, which would make any such contracts, agreement, commitment or plan not valid and binding upon or enforceable against such parties in accordance with their terms, except to the extent such enforceability may be subject to or limited by bankruptcy, insolvency, reorganization, arrangement or similar laws affecting the rights of creditors generally and usual equity principles. (b) Neither HT, nor, to the knowledge of HT, any other Person, is in material breach or violation of, or default under, any material contract, agreement, arrangement, commitment or plan to which HT is a party, and no event or action has occurred, is pending, or, to the knowledge of HT, is threatened, which, after the giving of notice, or the lapse of time, or otherwise, would constitute a material breach or a default by HT or, to the knowledge of HT, any other Person, under any material contract, agreement, arrangement, commitment or plan to which HT is a party.