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 or pursuant to Section 7.2.9), in whole or in part, terminate, cease to be effective or ------------- cease to be the legally valid, binding and enforceable obligation of any Credit Party thereto; any Credit Party or any other party shall, directly or indirectly, contest in any manner the effectiveness, validity, binding nature or enforceability of any Loan Document or Lien granted thereunder; or any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien, subject only to those exceptions expressly permitted by such Loan Document.

Impairment of Security, etc. Any Loan Document, or any --------------------------- Lien granted thereunder, shall (except in accordance with its terms or pursuant to Section 7.2.9terms), in whole or in part, terminate, cease to be effective or ------------- cease to be the legally valid, binding and enforceable obligation of any Credit Party Obligor party thereto; the Borrower, any Credit Party other Obligor or any other party shall, directly or indirectly, contest in any manner the such effectiveness, validity, binding nature or enforceability of enforceability; or, except as permitted under any Loan Document or Lien granted thereunder; or Document, any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien, subject only to those exceptions expressly permitted by such Loan Document.

Impairment of Security, etc. Any Loan Document, or any --------------------------- Lien granted thereunder, shall (except in accordance with its terms or pursuant to Section 7.2.9terms), in whole or in part, terminate, cease to be effective or ------------- cease to be the legally valid, binding and enforceable obligation of any Credit Party Obligor party thereto; the Borrower, any Credit Party other Obligor or any other party shall, directly or indirectly, contest in any manner the such effectiveness, validity, binding nature or enforceability of any Loan Document or Lien granted thereunderenforceability; or any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien, subject only to those exceptions expressly permitted by such Loan Document.

Impairment of Security, etc. Any Loan Document, or any --------------------------- Lien granted thereunder, shall (except in accordance with its terms or pursuant to Section 7.2.9terms), in whole or in part, terminate, cease to be effective or ------------- cease to be the legally valid, binding and enforceable obligation of any Credit Party Obligor party thereto; the Borrower, any Credit Party other Obligor or any other party shall, directly or indirectly, contest in any manner the such effectiveness, validity, binding nature or enforceability or shall disaffirm or deny any of its obligations under any Loan Document or Lien granted thereunderof the Guaranties; or any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien, subject only to those exceptions expressly permitted by such Loan Document.

Impairment of Security, etc. Any Loan --------------------------- Document, or any --------------------------- Lien granted thereunder, shall (except in accordance with its terms or pursuant to Section 7.2.9terms), in whole or in part, terminate, cease to be effective or ------------- cease to be the legally valid, binding and enforceable obligation of any Credit Party Obligor party thereto; the Borrower, any Credit Party other Obligor or any other party shall, directly or indirectly, contest in any manner the such effectiveness, validity, binding nature or enforceability of any Loan Document or Lien granted thereunderenforceability; or any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien, subject only to those exceptions expressly permitted by such Loan Document.

Impairment of Security, etc. (i) Any Loan Document, --------------------------- or any --------------------------- Lien granted thereunder, shall (except in accordance with its terms or pursuant to Section 7.2.9terms), in whole or in part, terminate, cease to be effective or ------------- cease to be the legally valid, binding and enforceable obligation of any Credit Party Obligor party thereto; (ii) the Borrower, any Credit Party other Obligor or any other party shall, directly or indirectly, contest in any manner the such effectiveness, validity, binding nature or enforceability of any Loan Document or Lien granted thereunderenforceability; or (iii) any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien, subject only to those exceptions expressly permitted by such Loan Document.

Impairment of Security, etc. (a) Any --------------------------- Loan Document, or any --------------------------- Lien granted thereunder, shall (except in accordance with its terms or pursuant to Section 7.2.9terms), in whole or in part, terminate, cease to be effective or ------------- cease to be the legally valid, binding and enforceable obligation of any Credit Party Obligor party thereto; (b) any Credit Party Borrower, any other Obligor or any other party shall, directly or indirectly, contest in any manner the such effectiveness, validity, binding nature or enforceability of any Loan Document or Lien granted thereunderenforceability; or (c) any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien, subject only to those exceptions expressly permitted by such Loan Document.