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 (except in accordance with its terms) or Holdings, the Company or any of the Company's Subsidiaries party thereto seeks to repudiate its obligations thereunder and the Liens intended to be created thereby are, or Holdings, the Company or any such Subsidiary seeks to render such Liens, invalid or unperfected, or (ii) Liens in favor of Lender contemplated by the Loan Documents shall, at any time, for any reason, be invalidated or otherwise cease to be in full force and effect (except to the extent that Lender has agreed that its Lien on the Junior Collateral shall remain unperfected until the occurrence of a Triggering Event), or such Liens shall be subordinated or shall not have the priority contemplated hereby or by the other Loan Documents.

Loan Documents; Failure of Security. At any time, for any reason, (i) any Loan Document ceases to be in full force and effect (except in accordance with its terms) or Holdings, the Company any Loan Party or any of the CompanyBorrower's Subsidiaries party thereto seeks to repudiate its obligations thereunder and the Liens intended to be created thereby are, or Holdings, the Company any Loan Party or any such Subsidiary seeks to render such Liens, invalid or and unperfected, ; or (ii) Liens in favor of Lender the Agents, the Issuing Banks 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 (except to the extent that Lender has agreed that its Lien on the Junior Collateral shall remain unperfected until the occurrence of a Triggering Event)effect, or such Liens shall be subordinated or shall not have the priority contemplated hereby by this Agreement, the Loan Documents or by the other Loan Transaction Documents.

Loan Documents; Failure of Security. At any time, for ----------------------------------- any reason, (i) any Loan Document ceases to be in full force and effect (except in accordance with its termsother than pursuant to the terms thereof) or Holdings, the Company Parent Guarantor or any of the Company's its Subsidiaries party thereto seeks to repudiate its obligations thereunder and the Liens intended to be created thereby are, or Holdings, the Company Parent Guarantor or any such Subsidiary seeks to render such Liens, invalid or unperfected, or (ii) Liens in favor of Lender the Agent for the benefit of the Secured Parties contemplated by the Loan Documents shall, at any time, for any reason, shall be invalidated or otherwise cease to be in full force and effect (except to the extent that Lender has agreed that its Lien on the Junior Collateral shall remain unperfected until the occurrence of a Triggering Event)effect, or such Liens shall be subordinated or shall not have the priority contemplated hereby by this Agreement or by the other Loan Documents.