Common use of Failure of Credit Documents Clause in Contracts

Failure of Credit Documents. This Agreement or any other Credit Document or any provision hereof or thereof shall cease to be in full force and effect or to give the Administrative Agent and/or the Lenders the rights, powers and privileges purported to be created thereby in any material respect, or any Loan Party or any Person acting by or on behalf of any Loan Party shall deny or disaffirm any of such Person’s obligations under this Agreement or any other Credit Document; or any Lien created by any of the Security Documents on any material portion of the Collateral shall cease to be enforceable and of the same effect and priority purported to be created thereby.