Common use of Binding Obligations Clause in Contracts

Binding Obligations. This Agreement constitutes a legal, valid, and binding obligation of the Servicer enforceable in accordance with their terms subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or law.

Appears in 28 contracts

Samples: Sale and Servicing Agreement (Usaa Acceptance LLC Auto Owner Trust 2002-1), Sale and Servicing Agreement (Bear Stearns Asset Backed Funding Inc), Sale and Servicing Agreement (USAA Auto Owner Trust 2006-3)

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Binding Obligations. This Agreement constitutes shall constitute a legal, valid, and binding obligation of the Servicer enforceable in accordance with their terms subjectits terms, except as to enforcement, to applicable enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity equity, regardless of whether such enforceability is shall be considered in a proceeding in equity or at law.

Appears in 18 contracts

Samples: Pooling and Servicing Agreement (Uacsc 1997-C Auto Trust), Pooling and Servicing Agreement (Uacsc 1997-D Auto Trust), Pooling and Servicing Agreement (Uacsc 1997-a Auto Trust)

Binding Obligations. This Agreement constitutes shall constitute a legal, valid, valid and binding obligation of the Servicer enforceable in accordance with their terms subjectits terms, except as to enforcement, to applicable enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation reorganization or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and generally or by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or lawprinciples.

Appears in 17 contracts

Samples: Sale and Servicing Agreement (Toyota Motor Credit Corp), Sale and Servicing Agreement (Toyota Motor Credit Corp), Sale and Servicing Agreement (Toyota Motor Credit Corp)

Binding Obligations. This Agreement constitutes a legal, valid, and binding obligation of the Servicer enforceable in accordance with their terms subjectits terms, except as to enforcement, to applicable enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity equity, regardless of whether such enforceability is shall be considered in a proceeding in equity or at law.

Appears in 13 contracts

Samples: Trust and Servicing Agreement (Uacsc Auto Trusts), Trust and Servicing Agreement (Bay View Deposit CORP), Trust and Servicing Agreement (United Fidelity Finance LLC)

Binding Obligations. This Agreement constitutes shall constitute a legal, valid, valid and binding obligation of the Servicer enforceable in accordance with their terms subjectits terms, except as to enforcement, to applicable enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation or moratorium and other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and generally or by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or lawequity.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Toyota Motor Credit Corp), Pooling and Servicing Agreement (Toyota Motor Credit Corp), Pooling and Servicing Agreement (Toyota Motor Credit Corp)

Binding Obligations. This Agreement constitutes a legal, valid, and binding obligation of the Servicer enforceable in accordance with their its terms subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or law.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (USAA Auto Owner Trust 2007-2), Sale and Servicing Agreement (USAA Auto Owner Trust 2008-1), Sale and Servicing Agreement (USAA Auto Owner Trust 2007-1)

Binding Obligations. This Agreement constitutes a legal, valid, and binding obligation of the Servicer enforceable in accordance with their its terms subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general (including creditors of federally chartered savings associations) and by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or law.

Appears in 3 contracts

Samples: Supplement Agreement (Usaa Acceptance LLC), Supplement Agreement (Usaa Acceptance LLC), Supplement Agreement (Usaa Acceptance LLC)

Binding Obligations. This The Agreement constitutes a legal, valid, and binding obligation of the Servicer enforceable in accordance with their its terms subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or law.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Usaa Federal Savings Bank), Pooling and Servicing Agreement (Usaa Federal Savings Bank), Pooling and Servicing Agreement (Usaa Federal Savings Bank)

Binding Obligations. This Agreement constitutes a legal, valid, and binding obligation of the Master Servicer enforceable in accordance with their terms subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or law.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Ml Asset Backed Corp), Sale and Servicing Agreement (Merrill Auto Trust Securitization 2005-1), Sale and Servicing Agreement (Merrill Auto Trust Securitization 2007-1)

Binding Obligations. This Agreement constitutes a legal, valid, and binding obligation of the Servicer enforceable in accordance with their its terms subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity regardless of rights, whether such enforceability is considered in a proceeding at law or in equity or lawequity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa National Association)

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Binding Obligations. This Agreement constitutes a legal, valid, and binding obligation of the Servicer enforceable in accordance with their its terms subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity regardless of , rights, whether such enforceability is considered in a proceeding at law or in equity or lawequity.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Binding Obligations. This Agreement constitutes a legal, valid, and binding obligation of the Master Servicer enforceable in accordance with their terms subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or law.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Merrill Auto Trust Securitization 2008-1)

Binding Obligations. This Agreement constitutes a legal, valid, valid and binding obligation of the Servicer enforceable in accordance with their terms subjectits terms, except as to enforcement, to applicable enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation or moratorium and other similar laws and equitable principles relating to or affecting the enforcement of creditors' rights in general and generally or by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or lawequity.

Appears in 1 contract

Samples: Servicing Agreement (Creditrust Corp)

Binding Obligations. This Agreement Agreement, when duly executed by the other parties hereto, constitutes a legal, valid, and binding obligation of the Servicer enforceable against the Servicer in accordance with their terms subjectits terms, except as to enforcement, to applicable the enforceability hereof may be limited by bankruptcy, insolvency, reorganization, liquidation reorganization or other similar laws and equitable principles now or hereafter in effect relating to or affecting the enforcement of creditors' rights in general and by general principles of equity equity, regardless of whether such enforceability is considered in a proceeding in equity or at law.

Appears in 1 contract

Samples: Sale and Servicing Agreement (GS Auto Loan Trust 2005-1)

Binding Obligations. This Agreement constitutes shall constitute a legal, valid, valid and binding obligation of the Master Servicer enforceable in accordance with their terms subjectits terms, except as enforceability may be subject to enforcement, to applicable or limited by bankruptcy, insolvency, reorganization, liquidation reorganization or other similar laws and equitable principles relating to or affecting the enforcement of creditors' , rights in general and by general principles of equity regardless of whether such enforceability is considered in a proceeding in equity or lawequity.

Appears in 1 contract

Samples: Receivables Transfer Agreement (Trendwest Resorts Inc)

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