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the Interest Rate Cap Agreement, and any other agreement which the Counterparty has executed and delivered pursuant thereto, has been duly executed and delivered by the Counterparty and constitutes the legal, valid and binding obligation of the Counterparty, enforceable against the Counterparty in accordance with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).

thesuch Interest Rate Cap Agreement,Cap, and any other agreementagreements which the Counterparty has executed and delivered pursuant thereto, hashave been duly executed and delivered by the Counterparty and constitutesconstitute the legal, valid and binding obligationobligations of the Counterparty, enforceable against the Counterparty in accordance with itstheir respective terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).

the execution and delivery of the Interest Rate Cap Agreement,Agreement by the Counterparty, and any other agreement which the Counterparty has executed and delivered pursuant thereto, hasand the performance of its obligations thereunder have been and remain duly executedauthorized by all necessary action and delivered by the Counterparty and constitutes the legal, valid anddo not contravene any provision of its certificate of incorporation or by-laws (or equivalent organizational documents) or any law, regulation or contractual restriction binding obligation of the Counterparty, enforceable against the Counterparty in accordance withon or affecting it or its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).property;

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