BOND DOCUMENTATION. (i) The Guaranty Agreement or any Security Document (or any material provision of any other Bond Document) shall cease to be in full force and effect or shall be declared void by a Governmental Authority, or any party thereto (other than a Bondholder Party) shall claim such unenforceability or invalidity, (ii) any Guarantee purported to be created under this Agreement or the Guaranty Agreement shall cease to be, or shall be asserted by any Loan Party not to be, in full force and effect or (iii) any security interest in the Collateral purported to be created by any Security Document shall cease to be, or shall be asserted in writing by any Loan Party not to be, a valid and perfected security interest (having the priority required by this Agreement or the relevant Security Document) in the securities, assets or properties covered thereby.
Appears in 3 contracts
Sources: Continuing Covenant Agreement, Continuing Covenant Agreement (SemGroup Corp), Continuing Covenant Agreement (SemGroup Corp)