Common use of Enforceability of Contracts Clause in Contracts

Enforceability of Contracts. Each Contract related to any Receivable sold by such Originator hereunder is effective to create, and has created, a legal, valid and binding obligation of the related Obligor to pay the outstanding balance of such Receivable, enforceable against the Obligor in accordance with its terms, without being subject to any defense, deduction, offset or counterclaim, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether enforceability is considered in a proceeding in equity or at law, and such Originator has fully performed its obligations, if any, under such Contract.

Enforceability of Contracts. Each Contract related with respect to any each Receivable sold originated by such Originator hereunder is effective to create, and has created, a legal, valid and binding obligation of the related Obligor to pay the outstanding balance Outstanding Balance of such Receivablethe Receivable created thereunder and any accrued interest thereon, enforceable against the Obligor in accordance with its terms, without being subject to any defense, deduction, offset or counterclaim, except as such enforceability enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of relating to or limiting creditors’ ' rights generally and by general principles of equity, equity (regardless of whether enforceability enforcement is considered sought in a proceeding in equity or at law, and such Originator has fully performed its obligations, if any, under such Contract).

Enforceability of Contracts. Each Contract related to any Receivable sold by such Originator hereunder arises under a Contract that is effective to create, and has created, a legal, valid and binding obligation of the related Obligor to pay the outstanding balance of such Receivable, enforceable against the such Obligor in accordance with its terms, without being subject to any defense, deduction, offset or counterclaim, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) as such enforceability may be limited by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law, and such Originator has fully performed its obligations, if any, under such Contract.

Enforceability of Contracts. Each Contract related with respect to any each Purchased Receivable sold by of such Originator hereunder is effective to create, and has created, a legal, valid and binding obligation of the related Obligor to pay the outstanding balance Outstanding Balance of such Receivablethe Purchased Receivable created thereunder and any accrued interest thereon, enforceable against the Obligor in accordance with its terms, without being subject to any defense, deduction, offset or counterclaim, except as such enforceability enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of relating to or limiting creditors’ rights generally and by general principles of equity, equity (regardless of whether enforceability enforcement is considered sought in a proceeding in equity or at law, and such Originator has fully performed its obligations, if any, under such Contract).

Enforceability of Contracts. Each Contract related with respect to any each Purchased Receivable sold by such of the Originator hereunder is effective to create, and has created, a legal, valid and binding obligation of the related Obligor to pay the outstanding balance Outstanding Balance of such Receivablethe Purchased Receivable created thereunder and any accrued interest thereon, enforceable against the Obligor in accordance with its terms, without being subject to any defense, deduction, offset or counterclaim, except as such enforceability enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of relating to or limiting creditors’ rights generally and by general principles of equity, equity (regardless of whether enforceability enforcement is considered sought in a proceeding in equity or at law, and such Originator has fully performed its obligations, if any, under such Contract).