Common use of Challenge to Loan Documents Clause in Contracts

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such Loan Document's terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially in accordance with the subject Loan Document's terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Lechters Inc), Loan and Security Agreement (Lechters Inc)

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Challenge to Loan Documents. (ai) Any challenge in writing by or on behalf of any Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (bii) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 2 contracts

Samples: Loan Agreement (Natural Wonders Inc), Loan Agreement (Natural Wonders Inc)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any the Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's ’s terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially in accordance with the subject Loan Document's ’s terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 2 contracts

Samples: Loan and Security Agreement (RoomStore, Inc.), Loan and Security Agreement (RoomStore, Inc.)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any the Borrower or any guarantor Guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's material terms or which seeks to void, avoid, limit, or otherwise materially adversely affect any the security interest created by or in any the Loan Document Documents or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially in accordance with the subject Loan Document's material terms or which voids, avoids, limits, or otherwise materially adversely affects any material the security interest created by the Loan Documents or any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 2 contracts

Samples: Loan and Security Agreement (Designs Inc), Loan and Security Agreement (Designs Inc)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any Borrower party to the Loan Documents (other than the Agent or any guarantor of the Liabilities a Lender) to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's ’s terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's ’s terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Gander Mountain Co)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of the Borrowers' Representative, any Borrower Borrower, or any guarantor of the Liabilities Guarantor to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Baker J Inc)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto.. 100 108 (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Mazel Stores Inc)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidable.thereto. 112 120

Appears in 1 contract

Samples: Loan and Security Agreement (Restoration Hardware Inc)

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Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any the Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (bc) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Hastings Entertainment Inc)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's material terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's material terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto. 1013 -CHANGE IN CONTROL. Any Change in Control.

Appears in 1 contract

Samples: Loan and Security Agreement (Officemax Inc /Oh/)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any the Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially in accordance with the subject Loan Document's terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Wild Oats Markets Inc)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of the Borrowers' Representative, any Borrower or any guarantor of the Liabilities Loan Party to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Designs Inc)

Challenge to Loan Documents. (a) Any challenge in writing by or on behalf of any Borrower or any guarantor of the Liabilities to the validity of any Loan Document or the applicability or enforceability of any Loan Document strictly in accordance with the material substance of such subject Loan Document's material terms or which seeks to void, avoid, limit, or otherwise adversely affect any security interest created by or in any Loan Document or any payment made pursuant thereto. (b) Any determination by any court or any other judicial or government authority that any Loan Document is not enforceable substantially strictly in accordance with the subject Loan Document's 66 material terms or which voids, avoids, limits, or otherwise adversely affects any material security interest created by any Loan Document or which determines any material payment made pursuant thereto is void or voidablethereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Officemax Inc /Oh/)

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