Common use of Binding obligations Clause in Contracts

Binding obligations. (a) The obligations expressed to be assumed by it in each Finance Document are, subject to, in relation to the incurrence of indebtedness and the assumption of payment obligations by the Borrower under this Agreement, the publication of the Official Gazette of Serbia in which the law on approving of this Agreement by the Parliament of Serbia has been published and any general principles of law limiting its obligations which are specifically referred to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation), legal, valid, binding and enforceable obligations. (b) This Agreement is in proper form for its enforcement in Serbia, except that for purposes of enforcement of any arbitral award before the courts in Serbia, a translation of this Agreement and related documents to Serbian may be required.