Legal Reservation definition

Legal Reservation means any qualifications as to matters of law set out in any legal opinion delivered under paragraph 6 of Part I of Schedule 2 (Conditions Precedent to Initial Utilisation).
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Legal Reservation has the meaning specified in the Agreed Security Principles.
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Examples of Legal Reservation in a sentence

  • Subject to the Legal Reservation, any judgment obtained in connection with any Loan Document will be recognized and be enforceable in England.

  • Subject to any applicable Legal Reservation, the obligations expressed to be assumed by each Obligor and the Sponsor in each Transaction Document to which it is a party are legal, valid, binding and enforceable obligations.

  • Subject to the Legal Reservation and the Perfection Requirements, the Transaction Security granted by it (or to be granted by it) has or will have the ranking in priority which it is expressed to have in the Transaction Security Documents to which it is a party and it is not subject to any prior ranking or pari passu ranking Security.

  • Subject to any applicable Legal Reservation, the obligations expressed to be assumed by each Obligor in each Transaction Document to which it is, or is to be, a party are or, when entered into by it, will be legal, valid, binding and enforceable obligations and each Security Document to which an Obligor is, or will be, a party, creates or will create the Security Interests which that Security Document purports to create and those Security Interests are or will be valid and effective.

  • Subject to any applicable Legal Reservation, the obligations expressed to be assumed by each Obligor in each Transaction Document to which it is a party are legal, valid, binding and enforceable obligations.

  • Subject to any applicable Legal Reservation, the obligations expressed to be assumed by it in this Guarantee are legal, valid, binding and enforceable obligations.

  • Subject to any applicable Legal Reservation, the security created by the Security Documents has (or will have when the Security Documents have been executed) the priority which it is expressed to have in the Security Documents, the Charged Property is not subject to any Security Interest other than Permitted Security Interests and such security will constitute perfected security on the assets described in the Security Documents to the extent provided for under the Security Documents.