Common use of Validity of Legal Agreements Clause in Contracts

Validity of Legal Agreements. This Agreement has been duly authorized, executed and delivered by the Master Issuer and constitutes, and the other Legal Agreements to which the Master Issuer is a party have been duly authorized by the Master Issuer and on the Closing Date will constitute, legal, valid and binding obligations of the Master Issuer, enforceable against the Master Issuer in accordance with their respective terms, subject as to enforceability to applicable bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation or other similar laws affecting the enforcement of creditors rights generally and to general equitable principles.