Common use of Unlawfulness and invalidity Clause in Contracts

Unlawfulness and invalidity. (a) It is or becomes unlawful for a Security Party to perform any of its obligations under the Finance Documents or any Encumbrance created or expressed to be created or evidenced by the Security Documents ceases to be effective. (b) Any obligation or obligations of any Security Party under any Finance Documents are not (subject to the Legal Reservations) or cease to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the Finance Documents. (c) Any Finance Document ceases to be in full force and effect or any Encumbrance created or expressed to be created or evidenced by the Security Documents ceases to be legal, valid, binding, enforceable or effective or is alleged by a party to it (other than a Finance Party) to be ineffective.

Unlawfulness and invalidity. (a) It is or becomes unlawful for a Security Party an Obligor to perform any of its obligations under the Finance Documents or any Encumbrance security created or expressed to be created or evidenced by the Security Documents ceases to be effectiveeffective or becomes unlawful. (b) Any obligation or obligations of any Security Party Obligor under any Finance Documents are not (subject to the Legal Reservations) or cease to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the Finance Documents. (c) Any Finance Document ceases to be in full force and effect or any Encumbrance Security created or expressed intended to be created or evidenced by under the Security Documents or any subordination required pursuant to this Agreement ceases to be legal, valid, binding, enforceable or effective or is alleged by a party to it (other than a Finance Party) to be ineffective.

Unlawfulness and invalidity. (a) It is or becomes unlawful for a Security Party an Obligor to perform any of its obligations under the Finance Documents or any Encumbrance Security Interest created or expressed to be created or evidenced by the Security Documents ceases to be effectiveeffective or becomes unlawful or any subordination created under the STID ceases to be effective or is or becomes unlawful. (b) Any obligation or obligations of any Security Party Obligor under any Finance Documents or any other member of the Security Group under the STID are not (subject to the Legal Reservations) or cease to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the Finance Documentsenforceable. (c) Any Finance Document ceases to be in full force and effect or any Encumbrance Security Interest or any subordination created or expressed to be created or evidenced by under the Security Documents STID ceases to be legal, valid, binding, enforceable or effective or is alleged by a party to it (other than a Finance Party) to be ineffective.

Unlawfulness and invalidity. (ai) It is or becomes unlawful for a Security Party to perform any of its obligations under the Finance Documents or any Encumbrance created or expressed to be created or evidenced by the Security Documents ceases to be effective. (bii) Any obligation or obligations of any Security Party under any Finance Documents are not (subject to the Legal Reservations) or cease to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the Finance Documents. (ciii) Any Finance Document ceases to be in full force and effect or any Encumbrance created or expressed to be created or evidenced by the Security Documents ceases to be legal, valid, binding, enforceable or effective or is alleged by a party to it (other than a Finance Party) to be ineffective.

Unlawfulness and invalidity. (a) a. It is or becomes unlawful for a Security Party an Obligor to perform any of its obligations under the Finance Documents or any Encumbrance security created or expressed to be created or evidenced by the Security Documents ceases to be effectiveeffective or becomes unlawful. (b) b. Any obligation or obligations of any Security Party Obligor under any Finance Documents are not (subject to the Legal Reservations) or cease to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the Finance Documents. (c) c. Any Finance Document ceases to be in full force and effect or any Encumbrance Security created or expressed intended to be created or evidenced by under the Security Documents or any subordination required pursuant to this Agreement ceases to be legal, valid, binding, enforceable or effective or is alleged by a party to it (other than a Finance Party) to be ineffective.

Unlawfulness and invalidity. (a) It is or becomes unlawful for a Security Party an Obligor to perform any of its obligations under the Finance Documents or any Encumbrance created or expressed to be created or evidenced by the Security Documents ceases to be effective. (b) Any obligation or obligations of any Security Party Obligor under any Finance Documents are not (subject to the Legal Reservations) or cease to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lenders under the Finance Documents. (c) Any Finance Document ceases to be in full force and effect or any Encumbrance created or expressed to be created or evidenced by the Security Documents ceases to be legal, valid, binding, enforceable or effective or is alleged by a party to it (other than a Finance Party) to be ineffective.