Valid Contribution Sample Clauses

Valid Contribution. Binding Obligations. This Agreement constitutes a valid contribution, assignment, transfer and conveyance to Company of all right, title, and interest of First Sierra in, to and under the Conveyed Assets and the Conveyed Assets will be held by Company free and clear of any Lien of any Person claiming, through or under First Sierra, except for Liens permitted under, or to be created by the Pooling and Servicing Agreement; and this Agreement, the Source Agreements and the Leases, when duly executed and delivered, will constitute legal, valid, and binding, obligations of First Sierra enforceable against First Sierra in accordance with their respective terms subject as to enforceability to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors' rights generally and to general principles of equity (regardless of whether enforcement is sought or a proceeding in equity or at law);

Valid Contribution. Each contribution, assignment and conveyance of Receivables and the Related Rights made by such Originator pursuant to this Agreement shall constitute a valid contribution, assignment and conveyance of Receivables and Related Rights to the Company, enforceable against creditors of, and purchasers from, such Originator, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) as such enforceability may be limited by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law.