Binding Effect and Enforceability Clause Samples
The "Binding Effect and Enforceability" clause establishes that the agreement is legally binding and enforceable upon the parties involved and, in some cases, their successors or permitted assigns. This means that all parties, and potentially their legal representatives or heirs, are obligated to honor the terms of the contract as written. By including this clause, the agreement ensures that its provisions remain effective and actionable, thereby providing certainty and legal assurance that the contract will be upheld in the event of disputes or changes in party status.
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Binding Effect and Enforceability. Upon delivery hereof and thereof, this Agreement, the Notes and the Loan and other Transaction Documents to which any Borrower is a party or signatory will be its respective legal, valid and binding obligations enforceable in accordance with their respective terms and provisions (except as limited by bankruptcy, insolvency or other laws or equitable principles of general application relating to the enforcement of creditors' rights generally) and, on the date of said delivery, none of the Borrowers will be in violation or contravention of, and no Default or Event of Default will exist under, any of the foregoing.
Binding Effect and Enforceability. This Agreement constitutes, and the other Loan Documents, when issued and delivered pursuant hereto for value received, will constitute, legal, valid and binding obligations of the Borrower and the Guarantor, enforceable in accordance with the terms thereof, except that the enforceability of the obligations of the parties under the Loan Documents is subject to the provisions of bankruptcy, insolvency, reorganization, moratorium or other similar laws and is also subject to general equity principles, which may limit the specific enforcement of certain remedies. {W:\transact\6130\990\00909336.BKB Ver:2.3}
Binding Effect and Enforceability. When executed and delivered, each of this Agreement, the Term Note and the other Loan Documents to which Borrower is a party or signatory will be the legal, valid and binding obligations of Borrower enforceable against Borrower in accordance with their respective terms, subject to the effect of any applicable bankruptcy, moratorium, insolvency, reorganization or other similar law affecting the enforceability of creditors' rights generally and to the effect of general principles of equity which may limit the availability of equitable remedies (whether in a proceeding at law or in equity).
Binding Effect and Enforceability. This Agreement constitutes, and the other Loan Documents, when issued and delivered pursuant hereto for value received, will constitute, legal, valid and binding obligations of the Borrower and the Guarantor, enforceable in accordance with the terms thereof, except that the enforceability of the obligations of the parties under the Loan Documents is subject to the provisions of bankruptcy, insolvency, reorganization, moratorium or other similar laws and is also subject to general equity principles, which may limit the specific enforcement of certain remedies.
Binding Effect and Enforceability. All the terms, covenants and conditions of this Agreement shall be binding upon, and inure to the benefit of, and be enforceable by the parties hereto and their respective successors, heirs, personal representatives, executors, and assigns.
Binding Effect and Enforceability. The Note and this Deed of Trust, when issued and delivered to the Beneficiary for value received, will constitute legal, valid and binding obligations of Grantor, enforceable in accordance with the terms thereof.
Binding Effect and Enforceability. This Agreement constitutes, and all other Loan Documents, when issued and delivered pursuant hereto for value received, will constitute, legal, valid and binding obligations of the Borrower, enforceable against Borrower in accordance with the terms thereof.
Binding Effect and Enforceability. For the purposes of this Agreement and any of the other Transaction Documents, the phrases "legal, valid and binding" and "enforceable in accordance with [ITS] [THEIR RESPECTIVE] terms" or similar phrases, when used with reference to one or more items, shall be deemed to mean that such enforceability may be limited by bankruptcy laws and other laws affecting creditors' rights and under general principles of equity.
Binding Effect and Enforceability. Upon delivery hereof and thereof, this Agreement, the Revolving Notes, and the other Loan Documents will be the legal, valid and binding obligations of the Borrowers enforceable, in each case, in accordance with their terms and provisions and, on the date of delivery, the Borrowers will not be in violation or contravention of, and no Event of Default or event or condition which with the passage of time or giving notice or both would constitute, mature into or become a default or Event of Default will exist under, any of the foregoing.