Common use of Impairment of Security, etc Clause in Contracts

Impairment of Security, etc. Any Collateral 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 Loan Party thereto; any Loan Party or any other Person 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 Secured Obligation shall, in whole or in part, cease to be a valid, perfected, first priority Lien, subject to no other Liens (other than as expressly permitted by the Collateral Documents), securing the Secured Obligations; or

Impairment of Security, etc. (a) Any Collateral Document Loan Document, or any Lien granted thereunder thereunder, shall (except in accordance with its terms), in whole or in partpart in any material respect, terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of any Loan Party theretothe Borrower; any Loan Party (b) the Borrower, or any other Person party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceability; or, except as permitted under any Loan Document, (c) or any Lien securing any Secured Obligation shall, in whole or in partany material respect, cease to be a valid, perfected, perfected first priority Lien, subject only to no other Liens (other than as those exceptions expressly permitted by the Collateral Documents), securing the Secured Obligations; orsuch Loan Document.

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

Impairment of Security, etc. (a) Any Collateral Document Loan 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 Loan Party Obligor party thereto; the Borrower, any Loan Party other Obligor or any other Person 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 any Lien securing any Secured Obligation shall, in whole or in part, cease to be a valid, perfected, perfected first priority Lien, subject only to no other Liens (other than as those exceptions expressly permitted by the Collateral Documents), securing the Secured Obligations; orsuch Loan Document.

Impairment of Security, etc. Any Collateral 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 Loan Party Obligor party thereto; any assets (whether now owned or hereafter acquired) of the Obligors fail to be secured as provided herein or in any other Loan Party Document; any Obligor or any other Person party shall, directly or indirectly, contest in any manner such effectiveness, validity, binding nature or enforceabilityenforceability of any Lien; or, except as permitted under any Loan Document, any Lien securing any Secured Obligation shall, in whole or in part, cease to be a valid, perfected, perfected first priority Lien, subject to no other Liens (other than as expressly permitted by the Collateral Documents), securing the Secured Obligations; or.

Impairment of Security, etc. Any Collateral Document Loan 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 Loan Party Obligor party thereto; any Loan Party SIHL or any other Person 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 any Lien securing any Secured Obligation shall, in whole or in part, cease to be a valid, perfected, perfected first priority Lien, subject only to no other Liens (other than as those exceptions expressly permitted by the Collateral Documents), securing the Secured Obligations; orsuch Loan Document.

Impairment of Security, etc. Any Collateral 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 Loan Party thereto; any Loan Party or any other Person 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 Secured Obligation shall, in whole or in part, cease to be a valid, perfected, first priority Lien, subject to no other Liens (other than as expressly permitted by the Collateral Documents), securing the Secured Obligations; or