This Agreement constitutes a legal, valid and binding obligation of the Vendor enforceable in accordance with its terms.

本协议构成卖方的合法、有效及具约束力的义务，可按其条款强制执行。

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Each Utilisation of the Loan shall constitute a legal, valid and binding obligation of the Borrower, repayable in accordance with the terms of this Agreement.

各贷款提款均构成借款人的合法、有效及有约束力的义务，且均必须按照本协议之条款进行偿还。

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"In our judgment the Union has no obligation to accept Mr. Hunter's current contract as valid or enforceable, " the statement read.

WSJ: Report Questions National Basketball Players Association Head Billy Hunter