Common use of Transaction Security Clause in Contracts

Transaction Security. (a) Any Obligor fails to perform or comply with any of the obligations assumed by it in the Security Documents. (b) At any time any of the Transaction Security is or becomes unlawful or is not, or ceases to be legal, valid, binding or enforceable or otherwise ceases to be effective. (c) At any time, any of the Transaction Security fails to have first ranking priority or is subject to any prior ranking or pari passu ranking Security.

Transaction Security. (a) Any Obligor fails to perform or comply with any of the material obligations assumed by it in the Security Documents. (b) At any time any of the Transaction Security is or becomes unlawful or is not, or ceases to be legal, valid, binding or enforceable or otherwise ceases to be effectiveeffective in any respect which is materially adverse to the interests of the Lenders. (c) At any time, any of the Transaction Security fails to have first ranking priority or is subject to any prior ranking or pari passu ranking Security.

Transaction Security. (a) Any Obligor fails to perform or comply with any of the obligations assumed by it in the Security Documents. (b) At any time any of the Transaction Security is or becomes unlawful or is not, or ceases to be legal, valid, binding or enforceable or otherwise ceases to be effective. (cb) At Subject to, any permitted under paragraphs (c)(iii), (iv), (v), (vi) and (x) of clause 24.3 (Negative pledge), at any time, any of the Transaction Security fails to have first ranking priority or is subject to any prior ranking or pari passu ranking Security.

Transaction Security. (a) Any Obligor member of the Group or the Sponsor fails to perform or comply with any of the obligations assumed by it in the Security DocumentsDocuments to which it is a party. (b) At any time any of the Transaction Security is or becomes unlawful or is not, or ceases to be legal, valid, binding or enforceable or otherwise ceases to be effective. (c) At any time, any of the Transaction Security fails to have first ranking priority or is subject to any prior ranking or pari passu ranking Security.

Transaction Security. (a) Any Obligor fails to perform or comply with any of the obligations assumed by it in the Security Documents. (b) At any time any of the Transaction Security is or becomes unlawful or is not, or ceases to be legal, valid, binding or enforceable or otherwise ceases to be effective. (cb) At Subject to, any permitted under paragraphs (c)(iii), (iv), (v), (vi) and (x) of Clause 23.3 (Negative Pledge), at any time, any of the Transaction Security fails to have first ranking priority or is subject to any prior ranking or pari passu ranking Security.

Transaction Security. (a) Any Obligor fails to perform or comply with any of the obligations assumed by it in the Security Documents. (b) At any time any of the Transaction Security is or becomes unlawful or is not, or ceases to be legal, valid, binding or enforceable or otherwise ceases to be effective, unless otherwise permitted by the Finance Documents. (c) At any time, any of the Transaction Security fails to have first ranking priority or is subject to any prior ranking or pari passu ranking Security.

Transaction Security. (a) Any Obligor fails to perform or comply with any of the obligations assumed by it in the Security Documents. (b) At any time any of the Transaction Security is or becomes unlawful or is not, or ceases to be legal, valid, binding or enforceable or otherwise ceases to be effectiveenforceable. (cb) At any time, any of the Transaction Security fails to have first ranking priority (other than as a result of mandatory provisions of law) or is subject to any prior ranking or pari passu ranking Security.