Common use of Enforceability of the Organizational Documents Clause in Contracts

Enforceability of the Organizational Documents. The Organizational Documents of each of the Memorial Parties have been duly authorized and validly executed and delivered by the parties thereto and are valid and legally binding agreements of such party, enforceable against such party in accordance with their respective terms, provided, that, with respect to each agreement described in this paragraph, the enforceability thereof may be limited by Creditors’ Rights; provided, further, that the indemnity, contribution and exoneration provisions contained in any of such agreements may be limited by applicable laws and public policy.