Common use of Invalidity of Obligations Clause in Contracts

Invalidity of Obligations. The invalidity, illegality or unenforceability of all or any part of the Obligations or any Loan Document, including the Notes, for any reason whatsoever, including without limitation the fact that the Obligations, or any part thereof, exceed the amount permitted by law, the act of creating the Obligations or any part thereof is ultra xxxxx, the officers or representatives executing any Loan Document or otherwise creating the Obligations acted in excess of their authority, the Obligations violate applicable usury laws, the Company has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Obligations wholly or partially uncollectible from the Company, the creation, performance or repayment of the Obligations (or the execution, delivery and performance of any Loan Document) is illegal, uncollectible, legally impossible or unenforceable, or the Credit Agreement, the Notes or other Loan Documents have been forged or otherwise are irregular or not genuine or authentic;

Appears in 5 contracts

Samples: Guaranty Agreement (Ocean Energy Inc), Guaranty Agreement (Ocean Energy Inc), Guaranty Agreement (Ocean Energy Inc)

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Invalidity of Obligations. The invalidity, illegality or unenforceability of all or any part of the Obligations or any Loan Document, including the Notes, Document for any reason whatsoever, including without limitation the fact that the Obligations, or any part thereof, exceed the amount permitted by law, the act of creating the Obligations or any part thereof is ultra xxxxxvirex, the xxe officers or representatives executing any Loan Document or otherwise creating the Obligations acted in excess of their authority, the Obligations violate applicable usury laws, the Company Borrower has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Obligations wholly or partially uncollectible from the CompanyBorrower, the creation, performance or repayment of the Obligations (or the execution, delivery and performance of any Loan Document) is illegal, uncollectible, legally impossible or unenforceable, or the Credit Agreement, the Notes Agreement or other Loan Documents have been forged or otherwise are irregular or not genuine or authentic;

Appears in 3 contracts

Samples: Guaranty Agreement (Corrida Resources Inc), Guaranty Agreement (Corrida Resources Inc), Guaranty Agreement (Corrida Resources Inc)

Invalidity of Obligations. The invalidity, illegality or unenforceability of all or any part of the Obligations or any Loan Document, including the Notes, Document for any reason whatsoever, including without limitation the fact that the Obligations, or any part thereof, exceed the amount permitted by law, the act of creating the Obligations or any part thereof is ultra xxxxx, the officers or representatives executing any Loan Document or otherwise creating the Obligations acted in excess of their authority, the Obligations violate applicable usury laws, the Company has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Obligations wholly or partially uncollectible from the Company, the creation, performance or repayment of the Obligations (or the execution, delivery and performance of any Loan Document) is illegal, uncollectible, legally impossible or unenforceable, or the Credit Agreement, the Notes Agreement or other Loan Documents have been forged or otherwise are irregular or not genuine or authentic;

Appears in 2 contracts

Samples: Revolving Credit Agreement (Ocean Energy Inc /Tx/), 364 Day Credit Agreement (Ocean Energy Inc /Tx/)

Invalidity of Obligations. The the invalidity, illegality or unenforceability of all or any part of the Obligations or any Loan Document, including the Notes, Document for any reason whatsoever, including without limitation the fact that the Obligations, or any part thereof, exceed the amount permitted by law, the act of creating the Obligations or any part thereof is ultra xxxxxvires, the officers or representatives executing any Loan Document or otherwise xxxxrwise creating the Obligations acted in excess of their authority, the Obligations violate applicable usury laws, the Company has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Obligations wholly or partially uncollectible from the Company, the creation, performance or repayment of the Obligations (or the execution, delivery and performance of any Loan Document) is illegal, uncollectible, legally impossible or unenforceable, or the Credit Agreement, the Notes Agreement or other Loan Documents have been forged or otherwise are irregular or not genuine or authentic;

Appears in 2 contracts

Samples: Revolving Credit Agreement (Ocean Energy Inc /Tx/), Guaranty Agreement (Ocean Energy Inc /Tx/)

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Invalidity of Obligations. The invalidity, illegality or unenforceability of all or any part of the Obligations or any Loan Document, including the Notes, for any reason whatsoever, including without limitation the fact that the Obligations, or any part thereof, exceed the amount permitted by law, the act of creating the Obligations or any part thereof is ultra xxxxxvirex, the xxe officers or representatives executing any Loan Document or otherwise creating the Obligations acted in excess of their authority, the Obligations violate applicable usury laws, the Company has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Obligations wholly or partially uncollectible from the Company, the creation, performance or repayment of the Obligations (or the execution, delivery and performance of any Loan Document) is illegal, uncollectible, legally impossible or unenforceable, or the Credit Agreement, the Notes or other Loan Documents have been forged or otherwise are irregular or not genuine or authentic;

Appears in 1 contract

Samples: Guaranty Agreement (Ocean Energy Inc)

Invalidity of Obligations. The invalidity, illegality or unenforceability of all or any part of the Obligations or any Loan Document, including the Notes, for any reason whatsoever, including without limitation the fact that the Obligations, or any part thereof, exceed the amount permitted by law, the act of creating the Obligations or any part thereof is ultra xxxxxvires, the officers or representatives executing any Loan Document Dxxxxxnt or otherwise creating the Obligations acted in excess of their authority, the Obligations violate applicable usury laws, the Company has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Obligations wholly or partially uncollectible from the Company, the creation, performance or repayment of the Obligations (or the execution, delivery and performance of any Loan Document) is illegal, uncollectible, legally impossible or unenforceable, or the Credit Agreement, the Notes or other Loan Documents have been forged or otherwise are irregular or not genuine or authentic;

Appears in 1 contract

Samples: Guaranty Agreement (Ocean Energy Inc)

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