Common use of Due Execution, Validity, Etc Clause in Contracts

Due Execution, Validity, Etc. The execution, delivery and performance by the Grantor of this Security Agreement does not contravene or result in a default under the Grantor's Organic Documents or contravene or result in a default under any material contractual restriction, Lien or governmental regulation or court decree or order binding on the Grantor. This Security Agreement has been duly executed and delivered on behalf of the Grantor and constitutes the legal, valid and binding obligation of the Grantor enforceable in accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditor's right generally, and subject to the effect of general principles of equity (regardless of whether considered in a proceeding in equity or at law). In addition, each representation and warranty of the Grantor contained in each Loan Document to which it is a party is true and correct in all material respects.

Due Execution, Validity, Etc. The execution, delivery and performance by the each Grantor of this Security Agreement does not contravene or result in a default under the such Grantor's Organic Documents or contravene or result in a default under any material contractual restriction, material Lien or governmental regulation or court decree or order binding on the such Grantor. This Security Agreement has been duly executed and delivered on behalf of the each Grantor and constitutes the legal, valid and binding obligation of the such Grantor enforceable in accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditor's right generally, and subject to the effect of general principles of equity (regardless of whether considered in a proceeding in equity or at law). In addition, each representation and warranty of the each Grantor contained in each Loan Document to which it is a party is true and correct in all material respects.