This Agreement and each other Loan Document has been duly executed and delivered by each Credit Party that is party thereto. This Agreement and each other Loan Document constitutes a legal, valid and binding obligation of such Credit Party, enforceable against each Credit Party that is party thereto in accordance with its terms, except as such enforceability may be limited by (i) Debtor Relief Laws and by general principles of equity and (ii) the effect of foreign Requirements of Law, rules and regulations as they relate to granting of security interest in pledges of Stock and Stock Equivalents in Foreign Subsidiaries (clauses (i) and (ii), the “ Enforcement Qualifications ”).