Common use of Execution and Binding Obligations Clause in Contracts

Execution and Binding Obligations. Each of this Agreement and the Release has been duly executed and delivered by the Vendor and constitutes a legal, valid and binding obligation of the Vendor enforceable against it in the accordance with its terms subject only to any limitation under applicable laws relating to (i) bankruptcy, winding-up, insolvency, arrangement and other similar laws of general application affecting the enforcement of creditors' rights, and (ii) the discretion that a court may exercise in granting equitable remedies such as specific performance;

Execution and Binding Obligations. Each of this Agreement and the Release has been duly executed and delivered by the Vendor Purchaser and constitutes a legal, valid and binding obligation of the Vendor Purchaser enforceable against it in the accordance with its terms subject only to any limitation under applicable laws relating to (i) bankruptcy, winding-up, insolvency, arrangement and other similar laws of general application affecting the enforcement of creditors' rights, and (ii) the discretion that a court may exercise in granting equitable remedies such as specific performance;.