Common use of Invalidity of Collateral Documents, etc Clause in Contracts

Invalidity of Collateral Documents, etc. (a) Any Collateral Document shall cease to be in full force and effect with respect to any Loan Party (unless such Loan Party ceases to be a Subsidiary pursuant to a transaction permitted by Section 10.10); (b) any Loan Party shall fail to comply with or to perform any applicable provision of any Collateral Document to which such entity is a party and such failure (i) affects a material portion of the collateral granted under such Collateral Document or (ii) continues for 10 days after a Responsible Officer obtains knowledge thereof; or (c) any Loan Party (or any Person by, through or on behalf of such Loan Party) shall contest in any manner the validity, binding nature or enforceability of any Collateral Document.

Invalidity of Collateral Documents, etc. (a) Any Collateral Document shall cease to be in full force and effect with respect to any Loan Party (unless such Loan Party ceases to be a Subsidiary pursuant to a transaction permitted by Section 10.10); (b) any Loan Party shall fail to comply with or to perform any applicable provision of any Collateral Document to which such entity is a party and such failure (i) affects a material portion of the collateral granted under such Collateral Document or (ii) continues for 10 ten (10) days after a Responsible Officer obtains knowledge thereof; or (c) any Loan Party (or any Person by, through or on behalf of such Loan Party) shall contest in any manner the validity, binding nature or enforceability of any Collateral Document.

Invalidity of Collateral Documents, etc. (a) Any Collateral Document shall cease to be in full force and effect with respect to any the Loan Party (unless such Loan Party ceases to be which is a Subsidiary pursuant to a transaction permitted by Section 10.10)party thereto; (b) any Loan Party shall fail (subject to any applicable grace period) to comply with or to perform any applicable provision of any Collateral Document to which such entity it is a party and such failure (i) affects if as a result thereof the Lien on any material portion of the collateral granted under such Collateral Document thereunder becomes unperfected or is otherwise adversely affected or (ii) continues for 10 within ten days after a Responsible Officer obtains knowledge thereofwritten request of either Agent or any Lender; or (c) any Loan Party (or any Person by, through or on behalf of such any Loan Party) shall contest in any manner the validity, binding nature or enforceability of any Collateral Document.