Lack of Validity Clause Samples
Lack of Validity. Any provision of any Loan Document shall for any reason cease to be valid and binding, which invalidity (i) renders any Loan Document invalid as a whole, (ii) shall cease to provide for legally adequate remedies for the realization of the payment obligations and security intended to be provided by any Loan Document, or (iii) creates economic consequences of delay and increased costs on the part of the Lender, unless the Borrower or Guarantors, as applicable, execute, within ten (10) Business Days, such amendments to the Loan Documents or such additional agreements or instruments as the Lender deems necessary to make such provision of the Loan Document valid and binding; or
Lack of Validity. Any provision of this Agreement shall at any time for any reason cease to be valid and binding on the Company, or shall be declared to be null and void, or the validity or enforceability thereof shall be contested by the Company or any other party (excluding the Bank) or any governmental agency or authority or the Company or any other party shall deny that it has any or further liability or obligation under this Agreement; or
Lack of Validity. Any provision of this Agreement or any Letter of Credit shall at any time for any reason cease to be valid and binding on Borrower or the validity or enforceability thereof shall be contested by Borrower or any other party thereto (excluding Administrative Agent) or any governmental agency or authority (other than the Issuer), or Borrower shall deny that it has any or further liability or obligation under this Agreement or any Letter of Credit Document; or
Lack of Validity if any Clause in this Contract were to be invalid or not enforceable, for any reason, and at the sole judgment of the Financial Institutions, same were to alter the economical and/or legal requirements that have been the basis of the consent given to this Contract;