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Common use of Seizures Clause in Contracts

Seizures. Any material portion of the Collateral shall be seized or taken by a Governmental Body, or any Borrower or the title and rights of any Borrower shall have become the subject matter of litigation which could reasonably be expected, in the opinion of Lender, upon final determination, to result in any material impairment or any material loss of the security provided by this Agreement or the Other Documents;

Appears in 2 contracts

Samples: Credit and Security Agreement (Omni Energy Services Corp), Credit and Security Agreement (Omni Energy Services Corp)

Seizures. Any material portion of the Collateral in excess of the Materiality Threshold shall be seized or taken by a Governmental BodyAuthority, or any Borrower or the title and rights of any Borrower shall have become the subject matter of litigation which could reasonably be expected, in the opinion of LenderAgent, upon final determination, to result in any material impairment or any material loss of the security provided by this Agreement or the Other Documentssuch Collateral;

Appears in 2 contracts

Samples: Loan and Security Agreement (Lexington Precision Corp), Credit and Security Agreement (Lexington Precision Corp)

Seizures. Any material portion of the Collateral shall be seized or taken by a Governmental Body, or any Borrower or the title and rights of any Borrower shall have become the subject matter of litigation which could reasonably be expected, in the opinion of Lenderthe Required Lenders, upon final determination, to result in any material impairment or any material loss of the any security provided by this Agreement or the Other Documents;other Loan Document.

Appears in 1 contract

Samples: Subordinated Loan Agreement (Memry Corp)

Seizures. Any material portion of the Collateral shall be seized or taken by a Governmental Body, or any Borrower or the title and rights of any Borrower shall have become the subject matter of litigation which could reasonably be expected, in the opinion of Lender, upon final determination, to result in any material impairment or any material loss of the any security provided by this Agreement or the Other Documents;

Appears in 1 contract

Samples: Credit and Security Agreement (Memry Corp)