Legal validity; effective Security Interests. The Finance Documents to which each Borrower is a party, do now or, as the case may be, will, upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents): (a) are in full force and effect; (b) constitute that Borrower’s legal, valid and binding obligations enforceable against that Borrower in accordance with their respective terms; and (c) create legal, valid and binding Security Interests enforceable in accordance with their respective terms over all the assets to which they, by their terms, relate, subject to the Legal Reservations.
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Samples: Amending and Restating Deed (Global Ship Lease, Inc.), Loan Agreement (Global Ship Lease, Inc.), Amending and Restating Agreement (Poseidon Containers Holdings Corp.)
Legal validity; effective Security Interests. The Finance Documents to which each Borrower is a party, do now or, as the case may be, will, upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents):
(a) are in full force and effect;
(b) constitute that Borrower’s legal, valid and binding obligations enforceable against that Borrower in accordance with their respective terms; and
(cb) create legal, valid and binding Security Interests enforceable in accordance with their respective terms over all the assets to which they, by their terms, relate, subject to the any Legal Reservations.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Product Shipping Ltd.)
Legal validity; effective Security Interests. The Finance Documents to which each Borrower is a party, do now or, as the case may be, will, upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents):
(a) are in full force and effect;
(b) constitute that Borrower’s legal, valid and binding obligations enforceable against that Borrower in accordance with their respective terms; and
(cb) create legal, valid and binding Security Interests (having the priority specified in the relevant Finance Document) enforceable in accordance with their respective terms over all the assets to which they, by their terms, relate, subject to the Legal Reservations.
Appears in 1 contract
Legal validity; effective Security Interests. The Finance Documents to which each Borrower it is a party, do now or, as the case may be, will, upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents):
(a) are in full force and effect;
(b) constitute that Borrower’s its legal, valid and binding obligations enforceable against that Borrower it in accordance with their respective terms; and
(cb) create legal, valid and binding Security Interests enforceable in accordance with their respective terms over all the assets to which they, by their terms, relate, subject to the Legal Reservationsany relevant insolvency laws affecting creditors’ rights generally.
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