Security imperilled. Any Security created or intended to be created by a Finance Document is in any way imperilled or in jeopardy.
Security imperilled. Any Credit Document is declared by a court or tribunal of competent jurisdiction to be void, invalid, illegal or unenforceable or the validity, legality or enforceability thereof is contested by any Credit Party or any other Person party thereto (other than the Lender), or any Credit Party or any other Person party thereto denies that it has any or further obligations thereunder;
Security imperilled. Any Transaction Security is in any way imperilled or in jeopardy. (v)
Security imperilled. Any Security created or intended to be created by a Finance Document is in any way imperilled or in jeopardy the Security Agent (acting on the instructions of the Facility Agent acting on the instructions of the Majority Lenders) has notified the relevant Transaction Obligor in writing of such matter and the relevant matter has not been remedied within 4 Business Days of the relevant Transaction Obligor being so notified.
Security imperilled. Any one or more of the Security Documents ceases to be in full force and effect or to constitute a valid and perfected first priority Lien (subject to Permitted Encumbrances that by law rank in priority)upon all the Collateral it purports to charge or encumber in favour of the Administrative Agent for the benefit of the Secured Parties and such Lien is not remedied or cured by the relevant Obligor within ten (10) days of notice to the Parent by the Administrative Agent, or if the Administrative Agent, determines at any time the Administrative Agent’s Lien in the Collateral on such date is inadequate (determined by the Administrative Agent in its reasonable discretion) or unenforceable (determined by the Administrative Agent in its sole discretion) and such Lien is not remedied or cured by the relevant Obligor within ten (10) days of notice by the Administrative Agent to the Parent; or
Security imperilled. Any Finance Document after delivery thereof shall for any reason (other than pursuant to the terms thereof) cease to create (i) in the case of any Mortgage, a valid first preferred mortgage under the Xxxxxxxx Xxxxxxx Xxxxxxxx Xxx, 0000, as amended, or, if the Ship is not registered in the Xxxxxxxx Islands, a valid first preferred or first statutory mortgage under the laws of the Approved Flag of such Ship, and (ii) in the case of any Assignment of Earnings or Assignment of Insurance, a valid and perfected first priority Security on the Collateral purported to be covered thereby.
Security imperilled. If (17) any Loan Document or any material right of the Lender thereunder becomes or is determined by a court of competent jurisdiction to be invalid, unenforceable or ineffective, (18) any Security is determined by a court of competent jurisdiction not to be or ceases to be valid and perfected or ranking in priority in the manner contemplated herein or in the Security Documents or (19) the Borrower or any receiver of the Borrower denies that the Borrower has any or further obligations under any Loan Document or challenges the validity of any provision thereof or of the Security.
Security imperilled. If (a) any Litigation is commenced which, if determined adversely to any Restricted Group Member or to the rights of the Senior Lenders, would constitute a Material Adverse Change, (b) any Finance Document or any material right thereunder becomes or is determined by a court of competent jurisdiction to be invalid, unenforceable or ineffective, (c) the Lien of any Security shall not be or cease to be valid and perfected ranking in priority in the manner contemplated herein or in the Security Documents, other than by reason of the direct act or omission of the Agent or the Lenders or (d) any Restricted Group Member or any other Person party to any Finance Document denies that it has any or further obligations thereunder or challenges the validity of any provision thereof or of the Security.
Security imperilled. If (a) any proceeding is commenced which, if determined adversely to any Obligor or to the rights of the Secured Parties contemplated under the Loan Documents, would result in (i) any material impairment of any Obligor’s ability to perform any of its Loan Obligations or (ii) any prejudice to, restriction on or rendering unenforceable or ineffective, any Sponsor Guarantee or Security or any rights intended to be granted under or pursuant to any Loan Document by any Obligor to or for the benefit of the Secured Parties which the Required Lenders in good faith determine is materially adverse to their rights or interests, (b) any Loan Document or any material right thereunder becomes or is determined by a court of competent jurisdiction to be invalid, unenforceable or ineffective, (c) the Lien of any Security over any Capital Stock of the Borrower or any Material asset is determined by a court of competent jurisdiction to be or ceases to be valid and perfected ranking in priority in the manner contemplated herein or in the Security Documents, other than by reason of the direct act or omission of any Secured Party or (d) any Obligor denies that it has any or further obligations under any Loan Document or challenges the validity of any provision thereof or of the Security.
Security imperilled. If any Litigation is commenced which, if determined adversely to any Gerdau S.A. Group Member or to the rights of the Syndicate, xxxxx xxxsonably be expected to give rise to a Material Adverse Change, or any Gerdau S.
A. Group Member or any other person party to any Xxxx Xxxxxxnt denies that it has any or further obligations thereunder.
