Common use of Effectiveness of the Security Documents Clause in Contracts

Effectiveness of the Security Documents. On or after the Effective Date and subject to (i) Section 10.16, (ii) any other limitation expressly set forth herein and (iii) the exceptions set forth in the applicable Security Documents, (A) for any reason (other than any act on the part of any Agent or any Lender) any Security Document ceases to be or is not in full force and effect or any of the Liens intended to be created by any Security Document ceases to be or is not a valid and perfected Lien having the priority contemplated thereby with respect to Collateral having an aggregate fair market value in excess of $5,000,000 or (B) any Borrower, or any other Loan Party shall assert in writing that any Security Document has ceased to be or is not in full force and effect; or

Effectiveness of the Security Documents. On or after the Effective Closing Date and subject to (i) Section 10.16, (ii) any other limitation expressly set forth herein and (iii) the exceptions set forth in the applicable Security Documents, (A) for any reason (other than any act on the part of any Agent or any Lender) any Security Document ceases to be or is not in full force and effect or any of the Liens intended to be created by any Security Document ceases to be or is not a valid and perfected Lien having the priority contemplated thereby with respect to Collateral having an aggregate fair market value in excess of $5,000,000 or (B) any Borrower, or any other Loan Party shall assert in writing that any Security Document has ceased to be or is not in full force and effect; or

Effectiveness of the Security Documents. On or after the Effective Closing Date and subject to (i) Section 10.16, (ii) any other limitation expressly set forth herein and (iii) the exceptions set forth in the applicable Security Documents, (A) for any reason (other than any act on the part of any Agent or any Lender) any Security Document ceases to be or is not in full force and effect or any of the Liens intended to be created by any Security Document ceases to be or is not a valid and perfected Lien having the priority contemplated thereby with respect to Collateral having an aggregate fair market value in excess of $5,000,000 or (B) any Borrowerthe Company, or any other Loan Party shall assert in writing that any Security Document has ceased to be or is not in full force and effect; or

Effectiveness of the Security Documents. On or after the Effective Date and subject to (i) Section 10.16, (ii) any other limitation expressly set forth herein and (iii) the exceptions set forth in the applicable Security Documents, (A) for any reason (other than any act on the part of any Agent or any Lender) any Security Document ceases to be or is not in full force and effect or any of the Liens intended to be created by any Security Document ceases to be or is not a valid and perfected Lien having the priority contemplated thereby with respect to Collateral having an aggregate fair market value in excess of $5,000,000 or (B) any Borrowerthe Company, or any other Loan Party shall assert in writing that any Security Document has ceased to be or is not in full force and effect; or