Common use of Obligations Are Valid and Binding Clause in Contracts

Obligations Are Valid and Binding. the obligations of the SEOCH Participant under this deed and the Charge are and will be until fully discharged valid, legal, binding and enforceable and the Charge constitutes a first fixed security interest over the Charged Property ranking in priority to the interests of any liquidator, administrator, receiver or creditor of the SEOCH Participant, and of any other person.