Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Agent shall not have or cease to have a valid and perfected first priority security interest in the Collateral purported to be covered (excluding Collateral having a fair market value in the aggregate of up to $100,000);
Appears in 3 contracts
Samples: Credit Agreement (Hines Horticulture Inc), Credit Agreement (Hines Holdings Inc), Credit Agreement (Hines Horticulture Inc)
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Agent shall not have or cease to have a valid and perfected first priority security interest in any significant part of the Collateral purported to be covered (excluding other than as a direct result of a breach by Agent of any obligation imposed on Agent under the Collateral having a fair market value in the aggregate of up to $100,000Documents);; or
Appears in 3 contracts
Samples: Credit Agreement (Wavetek U S Inc), Credit Agreement (Smiths Food & Drug Centers Inc), Credit Agreement (Bay Area Warehouse Stores Inc)
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Administrative Agent shall not have or shall cease to have a valid and perfected first priority First Priority security interest in the Collateral purported to be covered (excluding Collateral having a fair market value in the aggregate of up to $100,000);Collateral; or
Appears in 2 contracts
Samples: Multicurrency Credit Agreement (Goss Graphic Systems Inc), Multicurrency Credit Agreement (Goss Holdings Inc)
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or any applicable Agent shall not have or shall cease to have a valid and perfected first priority First Priority security interest in the Collateral purported to be covered (excluding Collateral having a fair market value in the aggregate of up to $100,000);Collateral; or
Appears in 2 contracts
Samples: Credit Agreement (Goss Graphic Systems Inc), Credit Agreement (Goss Graphic Systems Inc)
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Agent shall not have or 114 122 cease to have a valid and perfected first priority security interest in the Collateral purported to be covered (excluding Collateral having a fair market value in the aggregate of up to $100,000);Collateral; or
Appears in 1 contract
Samples: Credit Agreement (FWT Inc)
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Agent shall not have or cease to have a valid and perfected first priority security interest in the Collateral purported to be covered (excluding Collateral having a fair market value in the aggregate of up to $100,000);Collateral; or
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Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms 146 (Credit Agreement) 154 hereof or thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Agent shall not have or cease to have a valid and perfected first priority security interest in any significant part of the Collateral purported to be covered (excluding other than by reason of any release of Collateral having a fair market value in accordance with the aggregate of up to $100,000terms hereof or thereof);; or
Appears in 1 contract
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Agent shall not have or cease to have a valid and perfected first priority security interest First Priority Lien in the Collateral purported to be covered (excluding Collateral having a fair market value in the aggregate of up to $100,000);Collateral; or
Appears in 1 contract
Samples: Credit Agreement (Joy Global Inc)
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Administrative Agent shall not have or cease to have a valid and perfected first priority security interest in the Collateral purported Collateral, subject to be covered (excluding Collateral having a fair market value in the aggregate of up to $100,000);Permitted Liens:
Appears in 1 contract
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Agent shall not have or cease to have a valid and perfected first priority security interest First Priority Lien in any portion of the Collateral purported to be covered (excluding Collateral having a fair market value thereby exceeding $1,000,000 in the aggregate of up to $100,000);aggregate; or
Appears in 1 contract
Failure of Security. Any Collateral Document shall, at any time, cease to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms hereof or thereof) or shall be declared null and void, or the validity or enforceability thereof shall be contested by any Loan Party, or Agent shall not have or cease to have a valid and perfected first priority security interest in any significant part of the Collateral purported to be covered (excluding other than by reason of any release of Collateral having a fair market value in accordance with the aggregate of up to $100,000terms hereof or thereof);; or
Appears in 1 contract
