Common use of Invalidity of Credit Documents Clause in Contracts

Invalidity of Credit Documents. Any other Credit Document shall fail to be in full force and effect or to give the Administrative Agent and/or the Lenders the security interests, liens, rights, powers and privileges purported to be created thereby (except as such documents may be terminated or no longer in force and effect in accordance with the terms thereof, other than those indemnities and provisions which by their terms shall survive) or any Lien shall fail to be a first priority, perfected Lien, subject to Permitted Liens, on a material portion of the Collateral, other than by action of the Administrative Agent or the Lenders; or

Invalidity of Credit Documents. Any other Credit Document shall fail to be in full force and effect or to give the Administrative Agent and/or the Lenders the security interests, liens, rights, powers powers, priority and privileges purported to be created thereby (except as such documents may be terminated or no longer in force and effect in accordance with the terms thereof, other than those indemnities and provisions which by their terms shall survive) or any Lien shall fail (other than by the action or inaction of the Administrative Agent or any Lender) to be a first second priority, perfected Lien, subject to Permitted Liens, Lien on a material portion of the Collateral, other than by action of the Administrative Agent or the Lenders; or

Invalidity of Credit Documents. Any other Credit Document shall fail to be in full force and effect or to give the Administrative Agent and/or the Lenders the security interests, liens, rights, powers powers, priority and privileges purported to be created thereby (except as such documents may be terminated or no longer in force and effect in accordance with the terms thereof, other than those indemnities and provisions which by their terms shall survive) or any Lien shall fail (other than by the action or inaction of the Administrative Agent or any Lender) to be a first priority, perfected Lien, subject to Permitted Liens, Lien on a material portion of the Collateral, other than by action of the Administrative Agent or the Lenders; or