Common use of Enforceability of Organizational Agreements Clause in Contracts

Enforceability of Organizational Agreements. Each of the Organizational Agreements has been duly authorized and validly executed and delivered by the parties thereto and is a valid and legally binding agreement of such party, enforceable against such party in accordance with its terms; provided that the enforceability thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws relating to or affecting creditors’ rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); and provided, further, that the indemnity, contribution and exoneration provisions contained in any of such agreements may be limited by applicable laws and public policy.

Enforceability of Organizational Agreements. Each of the The Organizational Agreements has have been duly authorized and validly authorized, executed and delivered by the parties thereto and is a are valid and legally binding agreement agreements of such partyparties, enforceable against such party parties in accordance with its their respective terms; provided that that, with respect to each agreement described in this Section 1(m), the enforceability thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws relating to or affecting creditors’ rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); and providedprovided further that, further, that the indemnity, contribution and exoneration provisions contained in any of such agreements may be limited by applicable laws and public policy.