Common use of Execution; Enforceability Clause in Contracts

Execution; Enforceability. This Agreement, the Pass Through ------------------------- Trust Agreement, the Pass Through Trust Supplement and each other Operative Document to which the Charterer is a party have been duly executed and delivered by the Charterer and, assuming the due authorization, execution and delivery hereof and thereof by the other parties hereto and thereto are legal, valid and binding obligations of the Charterer, enforceable against the Charterer in accordance with their respective terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, liquidation, moratorium or similar laws affecting creditors' or lessors' rights generally and by the application of general equitable principles which may limit the availability of certain remedies.

Execution; Enforceability. This Agreement, the The Pass Through ------------------------- Trust Agreement, the ------------------------- Pass Through Trust Supplement Supplement, this Agreement and each other Operative Document to which the Charterer is a party have been duly executed and delivered by the Charterer and, assuming the due authorization, execution and delivery hereof and thereof by the other parties hereto and thereto are legal, valid and binding obligations of the Charterer, enforceable against the Charterer in accordance with their respective terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, liquidation, moratorium or similar laws affecting creditors' or lessors' rights generally and by the application of general equitable principles which may limit the availability of certain remedies.