Contesting Liens or Security Interests. None of Collateral Agent, either Agent, nor any Bank shall contest the validity, perfection, priority or enforceability of any lien or security interest granted to any Agent or Collateral Agent.
Contesting Liens or Security Interests. Neither of the Creditors shall contest the validity, perfection, priority, non-avoidability or enforceability of any Lien, claim or security interest of the other Creditor in the Collateral or the Metals Collateral.
Contesting Liens or Security Interests. Seafla shall not contest the validity, perfection, priority or enforceability of any lien or security interest granted to Chase.
Contesting Liens or Security Interests. Neither PTF nor POOF shall contest the validity, perfection, priority or enforceability of any lien or security interest granted to the other by the Company or any Guarantor,and each of PTF and POOF hereby agrees to cooperate in the defense of any action contesting the validity, perfection, priority or enforceability of such liens or security interest. Each of PTF and POOF shall also use its best efforts to notify the other of any change in the location of any of the Collateral orthe business operations of the Company or any Guarantor, or of any change in law which would make it necessary or advisable for the other party to file additional financing statements in another location as against the Company or any Guarantor, but the failure to do so shall not create a cause of action against the party failing to give such notice or create any claim or right on behalf of any third party. The priorities and distribution provision set forth in this Agreement with respect to any Collateral are expressly conditioned upon the non avoidability and perfection of liens or security interests to secure both the PTF Obligations and the POOF Obligations in such Collateral. If a lien or security interest is not perfected or is voidable for any reason in any Collateral with respect to the PTF Obligations or the POOF Obligations, then the priorities and distribution provisions provided for herein with respect to such Collateral shall not be effective to the extent of such nonperfection or avoidability.
Contesting Liens or Security Interests. No Lender shall contest the validity, perfection, priority or enforceability of any Lien or security interest granted to the Collateral Agent or any Lender (provided that such Lien or security interest is subject to the terms of this Agreement).
Contesting Liens or Security Interests. WFBC and Bank of Xxxxxxxx shall not contest the validity, perfection, priority or enforceability of any lien or security interest granted to any other Party hereto and each Party agrees to cooperate in the defense of any action contesting the validity, perfection, priority or enforceability of such liens or security interest.
Contesting Liens or Security Interests. FIREBIRD shall not contest the validity, perfection, priority or enforceability of any lien granted to CTCA in the CTCA Senior Collateral. CTCA shall not contest the validity, perfection, priority or enforceability of any lien granted to FIREBIRD in the FIREBIRD Senior Collateral. As between CTCA and FIREBIRD, the terms of this Agreement shall govern even if all or part of the CTCA Liabilities or the FIREBIRD Liabilities, as the case may be, or the liens securing payment thereof, are avoided, disallowed, set aside or otherwise invalidated.
Contesting Liens or Security Interests. Neither Alliance nor Bank shall contest the validity, perfection, priority or enforceability of any lien or security interest granted to the other Lender and each of the Lenders agrees to cooperate in the defense of any action contesting the validity, perfection, priority or enforceability of such liens or security interest. Each Lender shall also use its best efforts to notify the other Lender of any change in the location of any of the Collateral or the business operations of the Borrower or of any change in law which would make it necessary or advisable for the other Lender to file additional financing statements in another
Contesting Liens or Security Interests. Agent and Bank of Atchison shall not contest the validity, perfection, priority or enforceability of any lien or security interest granted to any other Party hereto and each Party agrees to cooperate in the defense of any action contesting the validity, perfection, priority or enforceability of such liens or security interest.
Contesting Liens or Security Interests. No Secured Creditor shall contest the validity, perfection, priority or enforceability of any Lien or security interest granted to the Collateral Agent or any other Secured Creditor (provided that such Lien or security interest shall be held for the benefit of the Collateral Agent and the Secured Creditors and shall be subject to the terms of this Agreement).
