Common use of Collateral Documents and other Loan Documents Clause in Contracts

Collateral Documents and other Loan Documents. At any time after the execution and delivery thereof, (i) this Agreement or any Collateral Document ceases to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms hereof or thereof or the satisfaction in full of the Obligations (other than contingent indemnification obligations and other contingent obligations not yet accrued and payable) in accordance with the terms hereof) or shall be declared null and void, or Administrative Agent shall not have or shall cease to have a valid and perfected Lien in any Collateral purported to be covered by the Collateral Documents with the priority required by the relevant Collateral Document (other than as a result of Administrative Agent’s failure to maintain possession of possessory Collateral or failure to file UCC continuation statements or UCC-3 or comparable documents), or (ii) Borrower shall contest the validity or enforceability of any Loan Document in writing or deny in writing that it has any further liability, including with respect to future advances by Xxxxxxx, under any Loan Document;

Collateral Documents and other Loan Documents. At any time after the execution and delivery thereof, (i) this Agreement or any Collateral Document ceases to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms hereof or thereof or the satisfaction in full of the Obligations (other than contingent indemnification obligations and other contingent obligations not yet accrued and payable) in accordance with the terms hereof) or shall be declared null and void, or Administrative Agent shall not have or shall cease to have a valid and perfected Lien in any Collateral purported to be covered by the Collateral Documents with the priority required by the relevant Collateral Document (other than as a result of Administrative Agent’s 's failure to maintain possession of possessory Collateral or failure to file UCC continuation statements or UCC-3 or comparable documents), or (ii) Borrower shall contest the validity or enforceability of any Loan Document in writing or deny in writing that it has any further liability, including with respect to future advances by XxxxxxxLenders, under any Loan Document;