Invalidity of Liens. Any Lien purported to be created under any Collateral Document shall cease to be, or shall be asserted by any Note Party not to be, a valid and perfected first priority Lien on any portion of the Collateral, except as a result of the sale or other disposition of the applicable Collateral to a Person that is not a Note Party in a transaction permitted under the Note Documents; or
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Samples: Note Purchase Agreement (Terran Orbital Corp), Note Purchase Agreement (Tailwind Two Acquisition Corp.), Note Purchase Agreement (Tailwind Two Acquisition Corp.)
Invalidity of Liens. Any Lien purported to be created under any Collateral Document shall cease to be, or shall be asserted by any Note Party not to be, a valid and perfected first priority Lien on any portion of the Collateral, except as a result of the sale or other disposition of the applicable Collateral to a Person that is not a Note Party in a transaction permitted under the Note Documents; or Change of Control. There occurs any Change of Control; or Qualified Public Company Event. There occurs any Qualified Public Company Event[Reserved]; or
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Invalidity of Liens. Any Lien purported to be created under any Collateral Document shall not be or shall cease to be, or shall be asserted by any Note Loan Party not to be, a valid and valid, perfected first or first-priority Lien on any portion of the Collateral, Collateral (subject only to Permitted Liens and except as a result to the extent not required to be perfected or first priority under the terms of the sale or other disposition of the applicable Collateral to a Person that is not a Note Party in a transaction permitted under the Note Documents; or);
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Samples: Loan and Security Agreement (Microvast Holdings, Inc.)
Invalidity of Liens. Any Lien purported to be created under any Collateral Document shall cease to be, or shall be asserted by any Note Party not to be, a valid and perfected second priority (or, following the payment in full of the FP Notes and the LM/BP Notes, first priority priority) Lien on any portion of the Collateral, except as a result of the sale or other disposition of the applicable Collateral to a Person that is not a Note Party in a transaction permitted under the Note Documents; or
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Samples: Convertible Note and Warrant Purchase Agreement (Terran Orbital Corp)
Invalidity of Liens. Any Lien purported to be created under any Collateral Document shall cease to be, or shall be asserted by any Note Party not to be, a valid and perfected first priority Lien on any portion of the Collateral, except as a result of the sale or other disposition of the applicable Collateral to a Person that is not a Note Party in a transaction permitted under the Note Documents; oror (l)Change of Control. There occurs any Change of Control; or 89 US-DOCS\127429400.24
Appears in 1 contract
Samples: Note Purchase Agreement (Tailwind Two Acquisition Corp.)
