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; Aegis, the Borrower, any other Obligor or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; 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 and except to the extent that any such Lien has ceased to be a perfected first priority Lien solely due to an act or omission by the Administrative Agent or a Lender.

Impairment of Security, etc. 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 Loan Document Party thereto; Aegis, the Borrower, any other Obligor Loan Document Party or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; or 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 those exceptions expressly permitted by such Loan Document and except to the extent that any such Lien has ceased ceases to be a perfected first priority Lien solely due (except that with respect to an act or omission by the Administrative Agent or a Lender.pledge of any Capital Stock of First Tier non-U.S. Subsidiaries, perfected first priority Lien to the extent applicable); or

Impairment of Security, etc. Any Loan Document, Collateral 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 Loan Party thereto; Aegis, the Borrower, any other Obligor Loan Party or any other party Person shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; or or, except as permitted under any Loan Document, any Lien securing any Secured Obligation shall, in whole or in part, cease to be a perfected valid, perfected, first priority Lien, subject only to those exceptions no other Liens (other than as expressly permitted by such Loan Document and except to the extent that any such Lien has ceased to be a perfected first priority Lien solely due to an act or omission by Collateral Documents), securing the Administrative Agent or a Lender.Secured Obligations; or

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; Aegis, the Borrower, SIHL or any other Obligor or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; 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 and except to the extent that any such Lien has ceased to be a perfected first priority Lien solely due to an act or omission by the Administrative Agent or a LenderDocument.

Impairment of Security, etc. (a) 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; Aegis, the Borrower, any other Obligor or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; 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 and except to the extent that any such Lien has ceased to be a perfected first priority Lien solely due to an act or omission by the Administrative Agent or a LenderDocument.

Impairment of Security, etc. Any Loan Document, Collateral 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 Loan Party thereto; Aegis, the Borrower, any other Obligor or any other party Loan Party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; or or, except as permitted under any Loan Document, any Lien securing any Secured Obligation shall, in whole or in part, cease to be a perfected valid, perfected, first priority Lien, subject only to those exceptions no other Liens (other than as expressly permitted by such Loan Document and except to the extent that any such Lien has ceased to be a perfected first priority Lien solely due to an act or omission by Collateral Documents), securing the Administrative Agent or a Lender.Secured Obligations; or

Impairment of Security, etc. 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; Aegis, any assets (whether now owned or hereafter acquired) of the Borrower, Obligors fail to be secured as provided herein or in any other Loan Document; any Obligor or any other party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceabilityenforceability of any Lien; or 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 those exceptions expressly permitted by such Loan Document and except to the extent that any such Lien has ceased to be a perfected first priority Lien solely due to an act or omission by the Administrative Agent or a Lender.