Common use of Enforceability of the Operative Agreements Clause in Contracts

Enforceability of the Operative Agreements. Each of the Operative Agreements to which the Trust is a party has been duly authorized by the Trust and has been, or as of the Closing Date will be, duly executed and delivered by the Trust, as applicable, and when duly executed and delivered by the other parties thereto, will constitute a valid and legally binding agreement of the Trust, enforceable against the Trust in accordance with its terms, except to the extent enforceability may be limited by (i) the application of bankruptcy, reorganization, insolvency and other laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

Enforceability of the Operative Agreements. Each of the Operative Agreements to which the Trust a Company Party is a party has been duly authorized by the Trust such Company Party and has been, or as of the Closing Date will be, duly executed and delivered by the Trustsuch Company Party, as applicable, and when duly executed and delivered by the other parties thereto, thereto will constitute a valid and legally binding agreement of the Trustsuch Company Party, enforceable against the Trust such Company Party in accordance with its terms, except to the extent enforceability may be limited by (i) the application of bankruptcy, reorganization, insolvency and other laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). The holders of the Trust Units are entitled to the benefits of the Trust Agreement.