Common use of Enforceability of Receivables Clause in Contracts

Enforceability of Receivables. Each Receivable sold by such Originator to the Buyer hereunder represents a legal, valid and binding obligation of the related Obligor to pay the Outstanding Balance thereof and any accrued interest or other Finance Table of Contents Charges thereon, enforceable against the Obligor in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).

Enforceability of Receivables. Each Receivable sold by such ----------------------------- Originator to the Buyer hereunder represents is a legal, valid and binding obligation of the related Obligor to pay the Outstanding Balance thereof of the Receivable created thereunder and any accrued interest or other Finance Table of Contents Charges (if any) thereon, enforceable against the Obligor in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ ' rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).

Enforceability of Receivables. Each Receivable sold by such Originator to the Buyer hereunder represents is a legal, valid and binding obligation of the related Obligor to pay the Outstanding Balance thereof of the Receivable created thereunder and any accrued interest or other Finance Table of Contents Charges (if any) thereon, enforceable against the Obligor in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ ' rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).

Enforceability of Receivables. Each Receivable sold by such Originator to the Buyer hereunder represents is a legal, valid and binding obligation of the related Obligor to pay the Outstanding Balance thereof of the Receivable created thereunder and any accrued interest or other Finance Table of Contents Charges (if any) thereon, enforceable against the Obligor in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).