Kinetic and thermodynamic signatures of the IF binding model. The KD,app and KD have units of concentration. The equilibrium concentrations, [Ceq], are expressed as a ratio of [Etotal] where [Etotal] = [E] + [EL] + [E*L]. The two observed rates, kalow and kfast, as well as their lower ([L] → 0) and upper ([L] →∞) limits have units of s−1 Three unique expressions describe each enzyme state as a function of ligand concentration and time: [E](L,t) = [Eeq] + AE,slowe−kslow*t + AE,faste−kfast*t, [EL](L,t) = [ELeq] + AEL,slowe−kslow*t + AEL,faste−kfast*t, and [E*L](L,t) = [E*Leq] + AE*L,,slowe−kslow*t + AE*L,faste−kfast*t