Common use of Failure of Agreements Clause in Contracts

Failure of Agreements. Any material provision of this Agreement or any material provision of any other Loan Document shall for any reason cease to be valid and binding on any Credit Party or any Subsidiary thereof party thereto or any such Person shall so state in writing, or the Liens created by any of the Security Documents shall for any reason not constitute a valid and perfected first priority Lien (subject to Permitted Liens) on, or security interest in, the Collateral purported to be covered thereby, in each case other than in accordance with the express terms hereof or thereof or by virtue of any action or inaction of the Administrative Agent.

Failure of Agreements. Any material provision of this Agreement or any material provision of any other Loan Document shall for any reason cease to be valid and binding on any Credit Party or any Subsidiary thereof party thereto or any such Person shall so state in writing, or the Liens created by any of the Security Documents Loan Document shall for any reason not constitute cease to create a valid and perfected first priority Lien (subject to Permitted Liens) on, or security interest in, any of the Collateral purported to be covered thereby, in each case other than in accordance with the express terms hereof or thereof or by virtue of thereof, in each case other than due to any action or inaction of the Administrative Agent.

Failure of Agreements. Any material provision of this Agreement or any material provision of any other Loan Document shall for any reason cease to be valid and binding on any Credit Party or any Subsidiary thereof party thereto or any such Person shall so state in writing, or the Liens created by any of the Security Documents Loan Document shall for any reason not constitute cease to create a valid and perfected first priority Lien (subject to Permitted Liens) on, or security interest in, any of the Collateral purported to be covered thereby, in each case other than in accordance with the express terms hereof or thereof or by virtue as a result of any an action or inaction failure to act on the part of the Administrative AgentAgent or any Lender.