Common use of Contested Obligation Clause in Contracts

Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations of any Credit Party, enforceable in accordance with their terms; or (ii) the validity, perfection or priority of MLBFS' first lien and security interest on any of the Collateral is contested by any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, such Credit Party's obligations under any Loan Document.

Appears in 16 contracts

Samples: Term Loan and Security Agreement (Stockeryale Inc), Loan and Security Agreement (Yp Net Inc), Wcma Loan and Security Agreement (Yp Corp)

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Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations of any Credit Party, enforceable in accordance with their terms; or (ii) the validity, perfection or priority of MLBFS' first lien and security interest on any of the Collateral is contested by any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, such Credit Party's ’s obligations under any Loan Document.

Appears in 4 contracts

Samples: Loan and Security Agreement (Continucare Corp), Loan and Security Agreement (Derma Sciences Inc), Loan and Security Agreement (Continucare Corp)

Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations of any Credit Party, enforceable in accordance with their terms; or (ii) the validity, perfection or priority of MLBFS' MLC’s first lien and security interest on any of the Collateral is contested by any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, such Credit Party's ’s obligations under any Loan Document.

Appears in 3 contracts

Samples: Term Loan and Security Agreement (Pac-West Telecomm Inc), Term Loan and Security Agreement (Pac-West Telecomm Inc), Term Loan and Security Agreement (Pac-West Telecomm Inc)

Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations of any Credit Party, enforceable in accordance with their terms; or (ii) the validity, perfection or priority of MLBFS' first lien and security interest on any of the Collateral is contested by any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, such Credit Party's obligations under any Loan Document.

Appears in 2 contracts

Samples: Wcma Reducing Revolver Loan Agreement (Evergreen International Aviation Inc), Term Loan Agreement (Applied Molecular Evolution Inc)

Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations of any Credit Party, enforceable in accordance with their terms; or (ii) the validity, perfection or priority of MLBFS' MLC's first lien and security interest on any of the Collateral is contested by any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, such Credit Party's obligations under any Loan Document.

Appears in 2 contracts

Samples: Term Loan and Security Agreement (Pioneer Drilling Co), Term Loan and Security Agreement (Pac-West Telecomm Inc)

Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations obligation of any Credit Party, enforceable in accordance with their its respective terms; or (ii) the validity, perfection or priority of MLBFS' first lien and security interest on any of the Collateral is contested by any PersonPerson except for those contests that pertain to Permitted Liens; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, such Credit Party's ’s obligations under any Loan Document.

Appears in 1 contract

Samples: Loan and Security Agreement (Exactech Inc)

Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations obligation of any Credit Party, enforceable in accordance with their terms; : or (ii) the validity, perfection or priority of MLBFS' first lien and security interest on any of the Collateral is contested by any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, . such Credit Party's obligations under any Loan Document.

Appears in 1 contract

Samples: Term Loan and Security Agreement (DND Technologies Inc)

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Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations of any Credit Party, enforceable in accordance with their terms; or (ii) the validity, perfection or priority of MLBFS' first lien and security interest on any of the Collateral is contested by any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, such Credit Party's ’s obligations under any Loan Document.

Appears in 1 contract

Samples: Term Loan Agreement (Axtive Corp)

Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are is asserted by any Credit Party not to be be, a legal, valid and binding obligations obligation of any Credit PartyParty thereto, enforceable in accordance with their its terms; or (ii) the validity, perfection or priority of MLBFS' Administrative Agent’s first lien Lien and security interest (subject to the Permitted Exceptions) on any of the Collateral is contested by any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, such Credit Party's ’s obligations under any Loan Document.

Appears in 1 contract

Samples: Construction and Term Loan Agreement (Rex Stores Corp)

Contested Obligation. (i) Any of the Loan Documents shall for any reason cease to be, or are asserted by any Credit Party not to be a legal, valid and binding obligations of any Credit Party, enforceable in accordance with their terms; or (ii) the validity, perfection or priority of MLBFS' Administrative Agent’s first lien Lien and security interest on any of the Collateral (subject to Permitted Liens) is contested by any Credit Party or any Person; or (iii) any Credit Party shall or shall attempt to repudiate, revoke, contest or dispute, in whole or in part, part such Credit Party's ’s material obligations under any Loan Document.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Clayton Williams Energy Inc /De)

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