Due Execution and Delivery; Binding Obligation Clause Samples
The 'Due Execution and Delivery; Binding Obligation' clause confirms that each party has properly signed and delivered the agreement, and that the agreement is legally binding on them. In practice, this means that the individuals signing have the authority to do so, and all necessary steps for execution—such as obtaining approvals or following corporate procedures—have been completed. This clause ensures that the contract is enforceable and that neither party can later claim the agreement is invalid due to improper execution or lack of authority, thereby providing certainty and legal assurance to both sides.
Due Execution and Delivery; Binding Obligation. Each of the Loan Documents has been duly executed and delivered by each Loan Party thereto and is the legal, valid and binding obligation of each Loan Party thereto, enforceable against such Loan Party in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditor’s rights generally or by general principles of equity.
Due Execution and Delivery; Binding Obligation. Each Credit Document has been duly executed and delivered by each Credit Party that is a party thereto and is the legal, valid and binding obligation of each Credit Party that is a party thereto, enforceable against such Credit Party in accordance with its terms, except as may be limited by Debtor Relief Laws or by equitable principles relating to enforceability.
Due Execution and Delivery; Binding Obligation. Upon entry by the Bankruptcy Court of the Interim Borrowing Order (or the Final Borrowing Order when applicable), each of the Loan Documents has been duly executed and delivered by each Loan Party thereto and is the legal, valid and binding obligation of each Loan Party thereto, enforceable against such Loan Party in accordance with its terms and the terms of the Interim Borrowing Order (or the Final Borrowing Order when applicable).
Due Execution and Delivery; Binding Obligation. This Agreement and each of the other Transaction Documents to which it is a party has been duly executed and delivered on behalf of the Purchaser and constitutes the valid, legal and binding obligation of the Purchaser, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights.
Due Execution and Delivery; Binding Obligation. This Agreement has been duly and validly authorized, executed and delivered by or on behalf of the Stockholder. This Agreement is a valid and binding obligation of the Stockholder, enforceable against such Stockholder in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency or other similar laws affecting the enforcement of creditor’s rights generally.
Due Execution and Delivery; Binding Obligation. This Agreement has been duly and validly executed by the Seller and constitutes the valid and binding obligation of the Seller, enforceable against the Seller in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or other laws affecting creditors' rights generally or by limitations on the availability of equitable remedies.
Due Execution and Delivery; Binding Obligation. Each of the Transaction Documents to which it is a party has been duly executed and delivered on behalf of the Servicer and constitutes the valid, legal and binding obligation of the Servicer, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights.