Failure of Security. The Lender does not have or ceases to have a valid and perfected first priority security interest in the Collateral (subject to Permitted Liens), in each case, for any reason other than the failure of the Lender to take any action within its control.
Appears in 4 contracts
Samples: Credit Agreement (Intercept Group Inc), Credit Agreement (Netzee Inc), Credit Agreement (Physicians Specialty Corp)
Failure of Security. The Lender does not have or ceases to have a valid and perfected first priority security interest in the Collateral (subject only to the priority of Permitted LiensEncumbrances), in each case, for any reason other than the failure of the Lender to take any ministerial action within its control.; or
Appears in 3 contracts
Samples: Loan and Security Agreement (Pacific Cma Inc), Term Loan and Security Agreement (Akrion, Inc.), Term Loan and Security Agreement (Akrion, Inc.)
Failure of Security. The Lender does not have or ceases to have a valid and perfected first priority security interest in the Collateral (subject to Permitted LiensEncumbrances), in each case, for any reason other than the failure of the Lender to take any action within its control.; or
Appears in 3 contracts
Samples: Credit Agreement (First Wave Marine Inc), Loan and Security Agreement (Editek Inc), Loan and Security Agreement (Intensiva Healthcare Corp)
Failure of Security. The Lender does not have or ceases to have a valid and perfected first priority security interest in the Collateral (subject to Permitted Liens)Collateral, in each case, for any reason other than the failure of the Lender to take any action within its control.
Appears in 1 contract
Samples: Credit Facilities Agreement (Integrated Information Systems Inc)
Failure of Security. The Lender does not have or ceases ------------------- to have a valid and perfected first priority security interest in the Collateral (subject to Permitted Liens)Encumbrances) or any substantial portion thereof, in each case, for any reason other than the failure of the Lender to take any action within its control.; or
Appears in 1 contract
Samples: Loan Agreement (Zefer Corp)
Failure of Security. The Lender does not have or ceases to have a ------------------- valid and perfected first priority security interest in the Collateral (subject to Permitted LiensEncumbrances), in each case, for any reason other than the failure of the Lender to take any action within its control.; or
Appears in 1 contract
