Common use of Valid Contracts Clause in Contracts

Valid Contracts. Such Finance Lease is a legal, valid and binding full recourse payment obligation of the related Lessee enforceable in accordance with its terms (except as may be limited by applicable insolvency, bankruptcy, moratorium, reorganization, or other similar laws affecting enforceability of creditors' rights generally and the availability of equitable remedies) and is in full force and effect and such Finance Lease has not been satisfied, subordinated or rescinded;

Valid Contracts. Such Finance Lease is a legal, valid and binding full recourse payment obligation of the related Lessee enforceable in accordance with its terms (except as may be limited by applicable insolvency, bankruptcy, moratorium, reorganization, or other similar laws affecting enforceability of creditors' ’ rights generally and the availability of equitable remedies) and is in full force and effect and such Finance Lease has not been satisfied, subordinated or rescinded;