Common use of Binding on ILSI; Enforceability Clause in Contracts

Binding on ILSI; Enforceability. This Agreement, assuming due authorization, execution and delivery hereof, and all the obligations of ILSI hereunder, constitute the valid and binding obligations of ILSI, enforceable against ILSI in accordance with the terms hereof, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the enforcement of creditors' rights in general and by general equity principles (regardless of whether such enforcement is considered in a proceeding in equity or at law).