Invalidity of Lien. If the lien of this Mortgage is invalid or unenforceable as to any part of the Secured Obligations, or if the lien is invalid or unenforceable as to any part of the Mortgage Estate, the unsecured or partially secured portion of the Secured Obligations shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the debt, and all payments made on the Secured Obligations, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the Secured Obligations which is not secured or is not fully secured by the lien of this Mortgage.
Invalidity of Lien. If the lien of this Mortgage is invalid or unenforceable as to any part of the debt, or if the lien is invalid or unenforceable as to any part of the Property, the unsecured or partially secured portion of the debt shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the debt, and all payments made on the debt, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or is not fully secured by the lien of this Mortgage.
Invalidity of Lien. 36 22. Subrogation . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Invalidity of Lien. If the lien of this Deed of Trust is invalid or unenforceable as to any part of the "Obligations" or the "Indebtedness" (as those capitalized terms are defined in the Credit Agreement) of Trustor under the Loan Documents, or if the lien is invalid or unenforceable as to any part of the Property, the unsecured or partially secured portion of such Obligations and Indebtedness shall be completely paid prior to the payment of the remaining and secured or partially secured portion of such Obligations and Indebtedness, and all payments made on such Obligations and Indebtedness, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of such Obligations and Indebtedness which is not secured or is not fully secured by the lien of this Deed of Trust. 32.
Invalidity of Lien. Lender shall cease to have a first-priority perfected security interest in a material portion of the Collateral.
Invalidity of Lien. Any Lien purported to be created under the Security Pledge Agreement shall cease to be, or shall be asserted by the Borrower or any Guarantor not to be, a valid and perfected Lien on any Collateral, with the priority required by the Security Pledge Agreement, except as a result of the sale or other disposition of the applicable Collateral in a transaction permitted under the Related Documents.
Invalidity of Lien. Subject to Section 11.15, any Lien purported to be created under any Security Document shall cease to be, or shall be asserted by any Credit Party not to be, a valid and perfected Lien on any material portion of the Collateral to the extent provided, and with the priority required by (but, (x) in the case of priority, only to the extent that any prior Lien not contemplated or permitted under the Loan Documents is material and (y) in any event, subject to Liens permitted by Section 8.2.2), the applicable Security Document, except (i) as a result of a sale, disposition or other transaction involving the applicable Collateral permitted under the Loan Documents or (ii) as a result of the Administrative Agent’s failure to maintain possession of any stock certificates, promissory notes or other documents delivered to it under the Security Agreement;
Invalidity of Lien. This Note and any related mortgage or deed of trust shall fail to, or shall cease to, create a valid and perfected lien in favor of Xxxxxx.
Invalidity of Lien. If the lien of this Mortgage is invalid or unenforceable as to any part of the Indebtedness, or if the lien is invalid or unenforceable as to any part of the Property, the unsecured or partially secured portion of the Indebtedness will be paid completely before the payment of the remaining and secured or partially secured portion of the Indebtedness, and all payments made on the Indebtedness, whether voluntary or under foreclosure or other enforcement action or procedure, will be considered to have been first paid on and applied to the full payment of that portion of the Indebtedness which is not secured or not fully secured by the lien of this Mortgage. Mortgage 7.9 Subrogation To the extent that proceeds of the Note are used to pay any outstanding Lien against the Property, Lender will be subrogated to any and all rights and Liens held by any such owner or holder, irrespective of whether such Liens are released.
Invalidity of Lien. If Beneficiary makes an advance that is ------------------ determined to be unsecured, if the lien of this Deed of Trust is invalid or unenforceable as to any part of the indebtedness secured hereby, or if the lien is invalid or unenforceable as to any part of the Property, the unsecured or partially secured portion of the indebtedness shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the indebtedness, and all payments made on the indebtedness, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the indebtedness that is not secured or fully secured by the lien of this Deed of Trust.
