Common use of Contested Obligation Clause in Contracts

Contested Obligation. (i) Any Loan Document shall for any reason cease to be, or is asserted by the Borrower or any Guarantor, as applicable, not to be, a legal, valid and binding obligation of that Person, enforceable in accordance with its terms; or (ii) the validity, perfection or priority of the Lender's first lien and security interest on any of the Collateral under this Agreement or any of the Trust Property under the Indenture is contested by any Person; or (iii) any Guarantor repudiates, revokes, contests or disputes, in whole or in part, such Guarantor's obligations under any Guaranty Agreement.