Common use of Effectiveness of Finance Documents Clause in Contracts

Effectiveness of Finance Documents. (a) It is or becomes unlawful for the Borrower or any other Party (other than a Finance Party or the Account Bank) to perform any of its material obligations under the Finance Documents. (b) Any material provision of a Finance Document is not effective or is alleged by the Borrower to be ineffective for any reason. (c) Any material provision of a Finance Document is not effective or is alleged by any Party (other than a Finance Party, the Borrower or the Account Bank) to be ineffective for any reason. (d) The Borrower repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document. (e) Any Party (other than a Finance Party or the Account Bank) repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document.

Appears in 6 contracts

Samples: Credit Facility Agreement, Credit Facility Agreement (Seaspan CORP), Credit Facility (Seaspan CORP)

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Effectiveness of Finance Documents. (a) It is or becomes unlawful for the Borrower an Obligor or any other Party (other than a Finance Party or the Account BankParty) to perform any of its material obligations under the Finance Documents. (b) Any material provision of a Finance Document is not effective or is alleged by the Borrower an Obligor to be ineffective for any reason. (c) Any material provision of a Finance Document is not effective or is alleged by any Party (other than a Finance Party, the Borrower Party or the Account Bankan Obligor) to be ineffective for any reason. (d) The Borrower An Obligor repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document. (e) Any Party (other than a Finance Party or the Account BankParty) repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document.

Appears in 2 contracts

Samples: Facility Agreement (Global Ship Lease, Inc.), Credit Agreement (Global Ship Lease, Inc.)

Effectiveness of Finance Documents. (a) It is or becomes unlawful for the Borrower or any other Party (other than a Finance Party or the Account Bank) to perform any of its material obligations under the Finance Documents. (b) Any material provision of a Finance Document is not effective or is alleged by the Borrower to be ineffective for any reason. (c) Any material provision of a Finance Document is not effective or is alleged by any Party (other than a Finance Party, the Borrower or the Account Bank) to be ineffective for any reason. (d) The Borrower repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document. (e) Any Party (other than a Finance Party or the Account Bank) repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document.

Appears in 1 contract

Samples: Credit Facility Agreement (Seaspan CORP)

Effectiveness of Finance Documents. (a) It is or becomes unlawful for the Borrower or any other Party (other than a Finance Party or the Account Bank) to perform any of its material obligations under the Finance Documents. (b) Any material provision of a Finance Document is not effective or is alleged by the Borrower a Security Party to be ineffective for any reason. (c) Any material provision of a Finance Document is not effective or is alleged by any Party (other than a Finance Party, the Borrower a Security Party or the Account Bank) to be ineffective for any reason. (d) The Borrower A Security Party repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document. (e) Any Party (other than a Finance Party or the Account Bank) repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document.

Appears in 1 contract

Samples: Reducing Revolving Credit Facility (Seaspan CORP)

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Effectiveness of Finance Documents. (a) It is or becomes unlawful for the any Borrower or any other Party (other than a Finance Party or the Account BankLender) to perform any of its material obligations under the Finance DocumentsDocuments which the Lender considers material. (b) Any material provision of a Finance Document is not effective or is alleged by the relevant Borrower to be ineffective for any reason. (c) Any material provision of a Finance Document is not effective or is alleged by any Party (other than the Lender or a Finance Party, the Borrower or the Account BankBorrower) to be ineffective for any reasonreason and in any respect which the Lender considers to be material. (d) The A Borrower repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document. (e) Any Party (other than a Finance Party or the Account BankLender) repudiates any material provision of a Finance Document or evidences an intention to repudiate any material provision of a Finance Document.

Appears in 1 contract

Samples: Credit Facility Agreement (Danaos Corp)

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