Common use of Valid Agreements Clause in Contracts

Valid Agreements. This Agreement has been duly and validly authorized, executed and delivered by the Transaction Entities, and the Operating Partnership Agreement has been duly and validly authorized, executed and delivered by the Transaction Entities; and each of this Agreement and the Operating Partnership Agreement, assuming due authorization, execution and delivery by the parties thereto (other than the Transaction Entities), is a valid and binding agreement of each of the Company and the Operating Partnership, respectively, enforceable against the Transaction Entities in accordance with its terms, except to the extent that such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, or other similar laws relating to creditors’ rights and general principles of equity and except as rights to indemnify and contribution thereunder may be limited by applicable law or policies underlying such law.