Common use of Authorization; Execution; Enforceability Clause in Contracts

Authorization; Execution; Enforceability. (a) This Agreement, ---------------------------------------- the Pass Through Trust Agreement and the Pass Through Trust Supplement have been duly authorized, executed and delivered by State Street Bank and Trust Company, in its individual capacity and, assuming the due authorization, execution and delivery hereof and thereof by the other parties hereto and thereto, are legal, valid and binding obligations of State Street Bank and Trust Company in its individual capacity (to the extent it is a party hereto or thereto in such capacity), enforceable against it in accordance with their respective terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium or similar laws affecting creditors' rights generally and by the application of general equitable principles which may limit the availability of certain remedies.