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

Invalidity of Loan Documents, etc. If any of the Loan Documents shall be cancelled, terminated, revoked, rescinded or otherwise ceases to be in full force and effect other than in accordance with their terms; or the Administrative Agent’s security interests, mortgages or Liens in all or a material portion of the Collateral shall cease to be perfected, or shall cease to have the priority contemplated by the Security Documents, the Second Lien Intercreditor Agreement and the Canadian Intercreditor Agreement, in each case otherwise than in accordance with the terms thereof or with a consent or approval obtained in accordance with Section 10.01; or any action at law, suit or in equity or other legal proceeding to cancel, revoke, rescind or declare void any of the Loan Documents shall be commenced by or on behalf of any Credit Party, any Subsidiary or any of their respective equity holders; or any court or any other Governmental Authority shall make a determination that, or issue a judgment, order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal, invalid or unenforceable in accordance with the terms thereof; or

Appears in 2 contracts

Samples: Credit Agreement (American Apparel, Inc), Credit Agreement (American Apparel, Inc)

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Invalidity of Loan Documents, etc. If any of the Loan Documents shall be cancelled, terminated, revoked, rescinded or otherwise ceases to be in full force and effect other than in accordance with their terms; or the Administrative Agent’s security interests, mortgages or Liens in all or a material portion of the Collateral shall cease to be perfected, or shall cease to have the priority contemplated by the Security Documents, the Second Lien Intercreditor Agreement and the Canadian Intercreditor Agreement, in each case otherwise than Documents in accordance with the terms thereof or with a consent or approval obtained in accordance with Section 10.0111.01; or any action at law, suit or in equity or other legal proceeding to cancel, revoke, rescind or declare void any of the Loan Documents shall be commenced by or on behalf of any Credit Party, any Subsidiary or any of their respective equity holders; or any court or any other Governmental Authority shall make a determination that, or issue a judgment, order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal, invalid or unenforceable in accordance with the terms thereof; or

Appears in 2 contracts

Samples: Restructuring Support Agreement (American Apparel, Inc), Credit Agreement (American Apparel, Inc)

Invalidity of Loan Documents, etc. If (A) other than in accordance with the terms thereof or with a consent or approval obtained in accordance with Section 9.01, any of the Loan Documents shall be cancelled, terminated, revoked, rescinded or otherwise ceases to be in full force and effect other than in accordance with their termseffect; or the Administrative Agent’s 's security interests, mortgages or Liens in all or a material portion of the Collateral shall cease to be valid and perfected, or shall cease to have the priority contemplated by the Security Documents, Documents other than due to the Second Lien Intercreditor Agreement and failure of the Canadian Intercreditor Agreement, in each case otherwise than in accordance with the terms thereof or with a consent or approval obtained in accordance with Section 10.01Administrative Agent to take appropriate perfection actions; or (B) any action at law, suit or in equity or other legal proceeding to cancel, revoke, rescind or declare void any of the Loan Documents shall be commenced by or on behalf of any Credit Party, any Subsidiary or any of their respective equity holders; or (C) any court or any other Governmental Authority shall make a determination that, or issue a judgment, order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal, invalid or unenforceable in accordance with the terms thereof; or

Appears in 2 contracts

Samples: Credit Agreement (Intersections Inc), Credit Agreement (Intersections Inc)

Invalidity of Loan Documents, etc. If any of the Loan Documents shall be cancelled, terminated, revoked, rescinded or otherwise ceases to be in full force and effect other than in accordance with their terms; or the Administrative Agent’s security interests, mortgages or Liens in all or a material portion of the Collateral shall cease to be perfected, or shall cease to have the priority contemplated by the Security Documents, the Second Lien Senior Notes Intercreditor Agreement and the Canadian Intercreditor Agreement, in each case otherwise than in accordance with the terms thereof or with a consent or approval obtained in accordance with Section 10.01; or any action at law, suit or in equity or other legal proceeding to cancel, revoke, rescind or declare void any of the Loan Documents shall be commenced by or on behalf of any Credit Party, any Subsidiary or any of their respective equity holders; or any court or any other Governmental Authority shall make a determination that, or issue a judgment, order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal, invalid or unenforceable in accordance with the terms thereof; or

Appears in 1 contract

Samples: Credit Agreement (American Apparel, Inc)

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Invalidity of Loan Documents, etc. If (A) other than in accordance with the terms thereof or with a consent or approval obtained in accordance with Section 9.01, any of the Loan Documents shall be cancelled, terminated, revoked, rescinded or otherwise ceases to be in full force and effect other than in accordance with their termseffect; or the Administrative Agent’s security interests, mortgages or Liens in all or a material portion of the Collateral shall cease to be valid and perfected, or shall cease to have the priority contemplated by the Security Documents, Documents other than due to the Second Lien Intercreditor Agreement and failure of the Canadian Intercreditor Agreement, in each case otherwise than in accordance with the terms thereof or with a consent or approval obtained in accordance with Section 10.01Administrative Agent to take appropriate perfection actions; or (B) any action at law, suit or in equity or other legal proceeding to cancel, revoke, rescind or declare void any of the Loan Documents shall be commenced by or on behalf of any Credit Party, any Subsidiary or any of their respective equity holders; or (C) any court or any other Governmental Authority shall make a determination that, or issue a judgment, order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal, invalid or unenforceable in accordance with the terms thereof; or

Appears in 1 contract

Samples: Credit Agreement (Intersections Inc)

Invalidity of Loan Documents, etc. If any of the Loan Documents shall be cancelled, terminated, revoked, rescinded or otherwise ceases to be in full force and effect other than in accordance with their terms; or the Administrative Agent’s 's security interests, mortgages or Liens in all or a material portion of the Collateral shall cease to be perfected, or shall cease to have the priority contemplated by the Security Documents, the Second Lien Intercreditor Agreement and the Canadian Intercreditor Agreement, in each case otherwise than in accordance with the terms thereof or with a consent or approval obtained in accordance with Section 10.01; or any action at law, suit or in equity or other legal proceeding to cancel, revoke, rescind or declare void any of the Loan Documents shall be commenced by or on behalf of any Credit Party, any Subsidiary or any of their respective equity holders; or any court or any other Governmental Authority shall make a determination that, or issue a judgment, order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal, invalid or unenforceable in accordance with the terms thereof; or

Appears in 1 contract

Samples: Credit Agreement (American Apparel, Inc)

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