Common use of Enforceable Obligations Clause in Contracts

Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower and constitute Borrower’s legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. The Loan Documents are not subject to any right of rescission, set-off, counterclaim or defense by Borrower, including the defense of usury.

Appears in 6 contracts

Samples: Loan Agreement (Brixmor Property Group Inc.), Loan Agreement (Pebblebrook Hotel Trust), Loan Agreement (Pebblebrook Hotel Trust)

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Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower and constitute Borrower’s legal, valid and binding obligations, enforceable against Borrower in accordance with their respective terms, subject to bankruptcy, insolvency insolvency, fraudulent transfer, reorganization, moratorium and similar laws Laws of general applicability relating to or affecting creditors’ rights and to general equity principles. The Loan Documents are not subject to any right of rescission, set-off, counterclaim or defense by Borrower, including the defense of usury.

Appears in 6 contracts

Samples: Subordinate Loan Agreement, Revolving Loan Agreement (Empire Resorts Inc), Subordinate Loan Agreement (Empire Resorts Inc)

Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower and constitute Borrower’s 's legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors' rights and to general equity principles. The Loan Documents are not subject to any right of rescission, set-off, counterclaim or defense by Borrower, including the defense of usury.

Appears in 4 contracts

Samples: Loan Agreement (Glimcher Realty Trust), Loan Agreement (Glimcher Realty Trust), Loan Agreement (Alexanders Inc)

Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower and constitute each Borrower’s legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. The Loan Documents are not subject to any right of rescission, set-off, counterclaim or defense by any Borrower, including the defense of usury.

Appears in 4 contracts

Samples: Senior Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.), Senior Mezzanine Loan Agreement (Gramercy Capital Corp), Loan Agreement (Gramercy Capital Corp)

Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower and constitute Borrower’s legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. The Loan Documents are not subject to any right of rescission, set-offoffset, abatement, counterclaim or defense by Borrower, including the defense of usuryusury or fraud.

Appears in 3 contracts

Samples: Loan Agreement (Chesapeake Lodging Trust), Loan Agreement (Chesapeake Lodging Trust), Loan Agreement (Chesapeake Lodging Trust)

Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower and constitute Borrower’s legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. The Loan Documents are not subject to any right of rescission, set-offoffset, abatement, counterclaim or defense by BorrowerBorrower or Guarantor, including the defense of usuryusury or fraud.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (New York REIT, Inc.), Loan Agreement (New York REIT, Inc.)

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Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower the Obligors and constitute Borrower’s the Obligors' legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. The the Loan Documents are not subject to any right of rescission, set-off, counterclaim or defense by Borrowerany Obligor, including the defense of usury, in each case subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors' rights and to general equity principles.

Appears in 1 contract

Samples: Loan Agreement (Trizec Properties Inc)

Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower and constitute Borrower’s legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. The Loan Documents are not subject to any right of rescission, set-off, counterclaim or defense by Borrower, including including, without limitation, the defense of usury.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust III, Inc.)

Enforceable Obligations. This Agreement and the other Loan Documents have been duly executed and delivered by Borrower Obligor and constitute BorrowerObligor’s legal, valid and binding obligations, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. The Loan Documents are not subject to any right of rescission, set-off, counterclaim or defense by BorrowerObligor, including the defense of usury.

Appears in 1 contract

Samples: Loan Agreement (Pebblebrook Hotel Trust)

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