Common use of Validity of Legal Agreements Clause in Contracts

Validity of Legal Agreements. This Agreement has been duly authorized, executed and delivered by each of Funding 2 and the Mortgages Trustee and constitutes, and the other Legal Agreements to which Funding 2 and the Mortgages Trustee are a party have been duly authorized by each of Funding 2 and the Mortgages Trustee and on the Closing Date will constitute, legal, valid and binding obligations of each of Funding 2 and the Mortgages Trustee, enforceable against each of Funding 2 and the Mortgages Trustee 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.