Common use of Legality; Validity; Enforceability Clause in Contracts

Legality; Validity; Enforceability. Each Series Securitization Document to which each Securitization Entity is (or will be when executed) a party constitutes a valid, legal and binding obligations of each Securitization Entity, enforceable against it in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).