Enforceability of Liens. If (i) this Agreement or any of the Loan Documents ceases to be in full force and effect; or (ii) any lien or security interest granted by Borrower to Lender in connection with the Loan is or becomes invalid or unenforceable or is not, or ceases to be, a perfected first priority lien or security interest in favor of Lender encumbering the asset to which it is intended to encumber and Borrower does not execute such documents to correct same within 10 days of written demand by Lender.
Enforceability of Liens. If any Lien granted by Borrower to Lender in connection with the Loan is or becomes invalid or unenforceable or is not, or ceases to be, a perfected first priority Lien in favor of Lender encumbering the asset which it is intended to encumber, and Borrower fails to cause such Lien to become a valid, enforceable, first and prior Lien in a manner satisfactory to Lender within ten (10) days after Lender delivers written notice thereof to Borrower.
Enforceability of Liens. If any lien or security interest granted by Borrower to Lender in connection with the Loan is or becomes invalid or unenforceable or is not, or ceases to be, a perfected first or second priority lien or security interest, as applicable, in favor of Lender encumbering the asset to which it is intended to encumber, and Borrower fails to cause such lien or security interest to become a valid, enforceable, first or second, as applicable, and prior lien or security interest in a manner satisfactory to Lender within ten (10) days after Lender delivers written notice thereof to Borrower."
Enforceability of Liens. If any lien or security interest granted by Borrower to Agent in connection with the Loan is or becomes invalid or unenforceable or is not, or ceases to be, a perfected first priority lien or security interest, as applicable, in favor of Agent, encumbering the asset which it is intended to encumber, and Borrower fails to cause such lien or security interest to become a valid, enforceable, first and prior lien or security interest in a manner satisfactory to Agent within ten (10) days after Agent delivers written notice thereof to Borrower.
Enforceability of Liens. Any Lien or security interest granted by Borrower to Lender in connection with the Obligations is or becomes invalid or unenforceable or is not, or ceases to be, a perfected first priority Lien or security interest in favor of Lender encumbering the asset to which it is intended to encumber, and Borrower fails to cause such Lien or security interest to become a valid, enforceable, first and prior Lien or security interest in a manner satisfactory to Lender within ten (10) days after Lender delivers written notice thereof to Borrower.
Enforceability of Liens. If any lien or security interest granted by Borrower to Lenders in connection with the Loan is or becomes invalid or unenforceable or is not, or ceases to be, a perfected first or second priority lien or security interest, as applicable, in favor of Agent, for itself and as agent for the Lenders, encumbering the asset which it is intended to encumber, and Borrower fails to cause such lien or security interest to become a valid, enforceable, first or second, as applicable, and prior lien or security interest in a manner satisfactory to Agent within ten (10) days after Agent delivers written notice thereof to Borrower.
Enforceability of Liens. Section 8.1(d) is hereby restated and amended as follows:
Enforceability of Liens. Any Lien granted to Lender pursuant to this Agreement becomes invalid, unenforceable, or ceases to be a first priority lien and security interest against the Collateral to which it is intended to attach, subject to Permitted Liens and assuming (A) the filing of the necessary financing statements with the applicable Governmental Authorities, to the extent a security interest in the Collateral of Borrower granted or purported to be granted under the existing Security Documents to which Borrower is a party may be perfected by the filing of a financing statement under the Uniform Commercial Code in effect in the State of Delaware, and (B) Lender taking all such other action necessary to perfect its security interest in the Collateral to the extent a security interest in the Collateral of Borrower granted or purported to be granted under the existing Security Documents to which Xxxxxxxx is a party may not be perfected by the filing of a financing statement under the Uniform Commercial Code in effect in the State of Delaware.
Enforceability of Liens. If a determination is made that any lien on the Collateral securing the Senior Lien Obligations is avoidable or not enforceable for any reason, any distribution or recovery received by the Junior Lien Agent or any other Junior Lien Secured Party with respect to the value of the assets intended to constitute such Collateral (and any proceeds thereof) shall be segregated and held in trust to be paid over to the Senior Lien Agent for the benefit of the Senior Lien Secured Parties. • Relief from Stay: Until the Discharge of the Senior Lien Obligations, neither the Junior Lien Agent nor any Junior Lien Lender will seek relief from the automatic stay or any other stay in any insolvency proceeding in respect of any portion of the Collateral without the Senior Lien Agent’s prior written consent.
Enforceability of Liens. If this DIP Loan Agreement or any other DIP Loan Document that purports to create a Lien shall, for any reason, fail or cease to create a valid and perfected first priority Lien on or security interest in the Collateral, subject only to (i) the Specified Liens and (ii) the Carve-Out; or
