Common use of Loan Documents; Failure of Security Clause in Contracts

Loan Documents; Failure of Security. At any time, for any reason, (i) any Loan Document ceases to be in full force and effect or any Loan Party thereto seeks to repudiate its obligations thereunder and the Liens intended to be created thereby are, or any Loan Party seeks to render such Liens, invalid and unperfected, or (ii) Liens in favor of the Administrative Agent and/or the Lenders contemplated by the Loan Documents shall, at any time, for any reason, be invalidated or otherwise cease to be in full force and effect, or such Liens shall be subordinated or shall not have the priority contemplated by this Agreement or the Loan Documents, or (iii) the Limited Use License Agreement is terminated or ceases to be in full force and effect; or

Loan Documents; Failure of Security. At any time, for any reason, (i) any Loan Document ceases to be in full force and effect or any Loan Party the Borrower or Guarantor party thereto seeks to repudiate its obligations thereunder and the Liens intended to be created thereby are, or any Loan Party the Borrower seeks to render such Liens, invalid and or unperfected, or (ii) Liens in favor of the Administrative Agent and/or for the Lenders benefit of the Holders contemplated by the Loan Documents shall, at any time, for any reason, be invalidated or otherwise cease to be in full force and effect, or such Liens shall be subordinated or shall not have the priority contemplated by this Agreement or the Loan Documents, other than as a result of the actions or (iii) failure to act on the Limited Use License Agreement is terminated part of the Agent or ceases to be in full force and effect; orany Lender.