Basic Agreements. (i) Any of the Basic Agreements shall cease for any reason to be in full force and effect (other than termination in accordance with its terms) or the obligor thereunder shall disavow or seek to discontinue its obligations thereunder, or shall contest the validity or enforceability of any thereof; or (ii) any Lien purported to be granted pursuant to the Security Agreements, the Pledge Agreements or the Mortgages for any reason shall cease to be a legal, valid or enforceable lien and security interest in the Collateral or the Mortgaged Property, as the case may be; or
Appears in 2 contracts
Sources: Credit Agreement (Stone Container Corp), Credit Agreement (Stone Container Corp)
Basic Agreements. (i) Any of the Basic Agreements shall cease for any reason to be in full force and effect (other than termination in accordance with its terms) or the obligor thereunder shall disavow or seek to discontinue its obligations thereunder, or shall contest the validity or enforceability of any thereof; or (ii) any Lien purported to be granted pursuant to the Security Agreements, the Pledge Agreements or the Mortgages for any reason shall cease to be a legal, valid or enforceable lien and security interest in the Collateral or the Mortgaged Property, as the case may be; or
Appears in 1 contract