Common use of Debtor Clause in Contracts

Debtor. Debtor is a corporation duly organized and validly existing under the laws of the State of Delaware. Debtor has full power, authority and legal right to enter into this Agreement and perform hereunder and to pledge and deliver all of the Collateral pursuant to this Agreement. The pledge of the Collateral and the granting of a security interest in the Collateral has been duly authorized by Debtor and this Agreement has been duly authorized, executed and delivered by Debtor and constitutes the legal, valid and binding obligation of Debtor enforceable against Debtor in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, moratorium or other similar laws affecting creditor's rights generally and except as enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity).