Legally Enforceable Clause Samples
A legally-enforceable clause establishes that the terms and obligations outlined within a contract or agreement are recognized by law and can be upheld in a court of law. In practice, this means that if one party fails to meet their contractual duties, the other party has the right to seek legal remedies such as damages or specific performance. The core function of this clause is to ensure that the agreement is not merely a moral or informal understanding, but a binding commitment with legal consequences, thereby providing certainty and protection for all parties involved.
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Legally Enforceable. This Mortgage and each other Loan Document to which Borrower is a party is the legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except to the extent that such enforcement may be limited by (a) applicable Insolvency Laws, or (b) general equitable principles, regardless of whether the issue of enforceability is considered in a proceeding in equity or at law.
Legally Enforceable. This Agreement is, and each of the other Loan Documents when duly executed and delivered under this Agreement will be, legal, valid, and binding obligations of each Borrower enforceable against each Borrower in accordance with their respective terms, except to the extent that such enforcement may be limited by applicable bankruptcy, insolvency, and other similar laws affecting creditor's rights generally.
Legally Enforceable. I hereby represent and warrant that all acts, conditions and things required to be done and performed and to have happened prior to the creation and issuance of this Guaranty, and to constitute the same as my valid and legally binding obligation in accordance with its terms, have been done and performed and have happened in due and strict compliance with all applicable laws. [If the Guarantor is a corporation or limited liability company, then and in such event, the Guarantor expressly represents and warrants to the Lender that the execution and delivery of this Guaranty have been duly authorized by resolutions heretofore duly adopted by its board of directors, managers or other governing body in accordance with all applicable bylaws, shareholder agreements or operating agreements, that said resolutions have not been amended or rescinded, are in full force and effect, and that the officers or managers of the Guarantor executing and delivering this Guaranty, for and on behalf of the Guarantor, are duly authorized and empowered to so act.] I understand and acknowledge that you are expressly relying on the aforesaid representations and warranties in accepting this Guaranty and in extending credit to the Borrower.