Common use of Binding Obligations of the Borrower and its Subsidiaries Clause in Contracts

Binding Obligations of the Borrower and its Subsidiaries. Each -------------------------------------------------------- Loan Document to which it is party is the legal, valid and binding obligation of the Borrower and each of its Subsidiaries, enforceable against each of them in accordance with their respective terms, except as enforcement may be limited by equitable principles and by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to creditors' rights generally.