Binding Obligation, Etc Clause Samples
The "Binding Obligation" clause establishes that the parties entering into the agreement are legally bound by its terms and have the authority to do so. In practice, this clause typically requires each party to confirm that signing the contract does not violate any other agreements and that all necessary approvals have been obtained. Its core function is to ensure that the contract is enforceable and that each party is fully committed and authorized, thereby reducing the risk of future disputes over the validity of the agreement.
Binding Obligation, Etc. This Agreement has been duly and validly executed and delivered by Contributor to Operating Partnership and constitutes a legal, valid and binding agreement of Contributor, enforceable against Contributor in accordance with its terms, except as such enforcement may be limited by bankruptcy, conservatorship, receivership, insolvency, moratorium or similar laws affecting creditors' rights generally and to general principles of equity. Contributor further represents and warrants that if Contributor is a corporation, partnership, trust or other entity, it has the power to, and is duly authorized and otherwise duly qualified to, purchase and hold securities such as Units and Common Shares (as hereinafter defined) and such entity has its principal place of business as set forth on Exhibit A.
Binding Obligation, Etc. This Agreement has been duly executed and delivered by the Member and is the valid and binding obligation of the Member, enforceable against the Member in accordance with its terms, subject to applicable bankruptcy, reorganization, insolvency, moratorium, and similar laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in equity or at law).
Binding Obligation, Etc. This Agreement constitutes the legal, valid, and binding obligation of Sellers, enforceable against it in accordance with the terms hereof. Upon the execution and delivery by Sellers of the documents and instruments required pursuant to the Agreement (collectively, “Sellers’ Closing Documents”), Sellers’ Closing Documents will constitute the legal, valid, and binding obligations of Sellers to the extent Sellers are a party thereto, enforceable against Sellers in accordance with their respective terms. Sellers have the absolute and unrestricted legal right, power, authority, and capacity to execute and deliver this Agreement and Sellers’ Closing Documents as required of Sellers hereunder and to perform their obligations under this Agreement and Sellers’ Closing Documents.
Binding Obligation, Etc. This Agreement has been duly and validly executed and delivered by Contributor to Operating Partnership and constitutes a legal, valid and binding agreement of Contributor, enforceable against Contributor in accordance with its terms, except as such enforcement may be limited by bankruptcy, conservatorship, receivership, insolvency, moratorium or similar laws affecting creditors' rights generally and to general principles of equity.
Binding Obligation, Etc. This Agreement has been duly executed and delivered by Collateral Agent and constitutes the legal, valid and binding obligations of Collateral Agent, enforceable against Collateral Agent in accordance with its terms, except that the enforceability thereof may be affected by bankruptcy, insolvency, moratorium and other similar laws affecting the rights and remedies of creditors generally and by the effect of general principles of equity.
Binding Obligation, Etc. This Agreement has been duly executed and delivered by such Senior Lender and constitutes the legal, valid and binding obligations of such Senior Lender, enforceable against such Senior Lender in accordance with its terms, except that the enforceability thereof may be affected by bankruptcy, insolvency, moratorium and other similar laws affecting the rights and remedies of creditors generally and by the effect of general principles of equity.