Common use of Validity and Effect of Agreement Clause in Contracts

Validity and Effect of Agreement. This Agreement has been duly and validly executed and delivered by NHT and/or Crown Partners and, assuming that it has been duly authorized, executed and delivered by the other parties hereto, constitutes a legal, valid and binding obligation of NHT and Crown Partners, in accordance with its terms except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors' rights generally.