Common use of Legally Binding Instruments Clause in Contracts

Legally Binding Instruments. When this Agreement is executed by the Borrower and the Lender, and when the Promissory Note is executed and delivered by the Borrower for value, each such instrument shall constitute the legal, valid, and binding obligation of the Borrower in accordance with its terms. Any Security Agreements and Instruments, Financing Statements, Mortgages and other liens on Chattel or real estate shall constitute legal, valid, and binding liens free and clear of all prior liens and encumbrances except as specifically provided for in the Loan Commitment Letter.

Legally Binding Instruments. When this Agreement is executed by the Borrower and the Lender, and when the Promissory Note is executed and delivered by the Borrower for value, each such instrument shall constitute the legal, valid, and binding obligation of the Borrower in accordance with its terms. Any Security Agreements and Instruments, Financing Statements, Mortgages Deeds to Secure Debt and Security Agreements, and other liens on Chattel chattel or real estate shall constitute legal, valid, and binding liens free and clear of all prior liens and encumbrances except as specifically provided for in hereinabove or on the Loan Commitment Letterface of said documents.