Invalidity/Repudiation Sample Clauses
The Invalidity/repudiation clause defines the consequences and procedures if one party declares a contract invalid or refuses to honor its obligations. In practice, this clause typically outlines the rights of the non-breaching party, such as the ability to terminate the agreement, seek damages, or pursue other remedies if the contract is repudiated or found to be unenforceable. Its core function is to protect parties from the risks associated with one side unilaterally rejecting or invalidating the contract, ensuring there is a clear process for resolution and minimizing uncertainty.
Invalidity/Repudiation. Any Finance Document becomes invalid or ineffective or the Borrower repudiates a Finance Document or evidences an intention to repudiate a Finance Document.
Invalidity/Repudiation. (i) Any material provision of this Agreement, the Note, the Authorizing Law or the Resolution is declared to be null and void by a final non- appealable judgment of court of competent jurisdiction; or
(ii) The City, pursuant to official action on the part of its City Council, shall deny that it has any or further liability or obligation under this Agreement, the Note, the Authorizing Law or the Resolution.
Invalidity/Repudiation. Any Financing Document or any material provision of any Financing Document shall not be, or shall cease to be, valid and enforceable and in full force and effect (other than as a result of the indefeasible payment in full of all amounts due thereunder); or the Borrower shall disaffirm or repudiate any of its respective obligations under the Financing Documents;
Invalidity/Repudiation. Any of the following occurs:
(a) subject to the Reservations and the Perfection Requirements, any material obligation of the Obligors under any Interim Finance Document is or becomes invalid or unenforceable, in each case, in a manner which is materially adverse to the interests of the Interim Lenders (taken as a whole) under the Interim Finance Documents;
(b) subject to the Reservations and the Perfection Requirements, it is or becomes unlawful in any applicable jurisdiction for the Obligors to perform any of their material obligations under any Interim Finance Document, in each case, in a manner which is materially adverse to the interests of the Interim Lenders (taken as a whole) under the Interim Finance Documents; or
(c) any of the Obligors repudiates or rescinds an Interim Finance Document and such repudiation or rescission is materially prejudicial to the interests of the Interim Lenders (taken as a whole) under the Interim Finance Documents, and, if capable of remedy, the same is not remedied within fifteen (15) Business Days of the earlier of the Obligors’ Agent (i) becoming aware of such failure and (ii) receiving written notice from the Interim Facility Agent notifying it of that failure.
Invalidity/Repudiation. Any provision of any Loan Document shall cease for any reason to be valid, binding and in full force and effect; an Obligor shall contest in any manner the validity or enforceability of any provision of any Loan Document; or any Obligor shall deny that it has any further liability or obligation under any provision of any Loan Document or shall purport to revoke, terminate or rescind any provision of any Loan Document;
Invalidity/Repudiation. The L/C Issuer shall directly or indirectly contest the validity of the Letter of Credit in any manner in any court of competent jurisdiction, or shall repudiate, or purport to discontinue or terminate, the Letter of Credit or the Letter of Credit shall cease to be a legal, valid and binding obligation of the L/C Issuer or shall cease to be in full force and effect against the L/C Issuer for any reason; or