Common use of Legality; Validity; Enforceability Clause in Contracts

Legality; Validity; Enforceability. Assuming the duly authorized execution and delivery thereof by each other party thereto other than Recipient Party, each Financing Document to which the Recipient is (or will be when executed) a party constitutes (or when executed, will constitute) a legal, valid and binding obligation of the Recipient, enforceable against the Recipient in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other Applicable Laws affecting creditors’ rights generally and by general principles of equity (whether enforcement is sought by proceedings in equity or at law).

Legality; Validity; Enforceability. Assuming the duly authorized execution and delivery thereof by each other party thereto other than Recipient Party, each Financing Document to which the Recipient is (or will be when executed) a party constitutes (or or, when executed, will constitute) a legal, valid and binding obligation of the Recipient, enforceable against the Recipient in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other Applicable Laws affecting creditors’ rights generally and by general principles of equity (whether enforcement is sought by proceedings in equity or at law).