Common use of Impairment of Security, etc Clause in Contracts

Impairment of Security, etc. Any Loan Document or any Lien granted thereunder shall (except in accordance with its terms), in whole or in part, terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of any Obligor party thereto; any Obligor or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; or, except as permitted under any Loan Document, any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien (subject to (including with respect to priority) Liens otherwise permitted hereunder).

Impairment of Security, etc. (a) Any Loan Document Document, or any Lien granted thereunder thereunder, shall (except in accordance with its terms), in whole or in part, terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of any Obligor party thereto; (b) any Borrower, any other Obligor or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; or, except as permitted under any Loan Document, or (c) any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien (Lien, subject only to (including with respect to priority) Liens otherwise those exceptions expressly permitted hereunder)by this Agreement or such Loan Document.

Impairment of Security, etc. (a) Any Loan Document Document, or any Lien granted thereunder thereunder, shall (except in accordance with its terms), in whole or in part, terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of any Obligor party thereto; (b) any Borrower, any other Obligor or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; or, except as permitted under any Loan Document, or (c) any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien (Lien, subject only to (including with respect to priority) Liens otherwise those exceptions expressly permitted hereunder)by such Loan Document.

Impairment of Security, etc. Any Loan Document or any Lien granted thereunder shall (except in accordance with its terms), in whole or in part, terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of any Obligor party thereto; any Obligor or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; or, except as permitted under any Loan Document, any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien (subject only to (including with respect to priority) Liens otherwise permitted hereunderby SECTION 7.2.3).