Common use of Invalidity of Loan Documents; Failure of Security; Repudiation of Obligations Clause in Contracts

Invalidity of Loan Documents; Failure of Security; Repudiation of Obligations. At any time after the execution and delivery thereof, (i) any Loan Document or any provision thereof, for any reason other than the satisfaction in full of all Obligations, shall cease to be in full force and effect (other than in accordance with its terms) (ii) any Loan Document or any provision thereof shall be declared to be null and void, (iii) Administrative Agent shall not have or shall cease to have a valid and perfected First Priority Lien in any Collateral purported to be covered by the Collateral Documents having a fair market value exceeding, individually or in the aggregate, 5% of the fair market value of the Collateral, in each case for any reason other than the failure of Administrative Agent or any Lender to take any action within its control, or (iv) any Loan Party shall contest the validity or enforceability of any Loan Document or any provision thereof in writing or deny in writing that it has any further liability, including with respect to future advances by Lenders, under any Loan Document or any provision thereof to which it is a party unless, in the case of clause (i) above, such unenforceability is capable of remedy and the applicable Loan Party remedies such unenforceability within 30 days of it being determined, or in the case of clause (ii) above such Loan Party appeals such declaration and has it finally overturned within 30 days of such declaration having been made, in which case the unenforceability, declaration or failure shall not constitute an Event of Default; or

Invalidity of Loan Documents; Failure of Security; Repudiation of Obligations. At any time after the execution and delivery thereof, (i) any Loan Document or any provision thereof, for any reason other than the satisfaction in full of all Obligations, shall cease to be in full force and effect (other than in accordance with its terms) (ii) any Loan Document or any provision thereof shall be declared to be null and void, (iiiii) Administrative Agent shall not have or shall cease to have a valid and perfected First Priority Lien in any Collateral purported to be covered by the Collateral Documents having a fair market value exceeding, individually or in the aggregate, 5% of the fair market value of the CollateralDocuments, in each case for any reason other than in accordance with a release of Collateral contemplated by the Loan Documents the failure of Administrative Agent or any Lender to take any action within its control, and except to the extent that such loss is covered by a lenders title insurance policy as to which the insurer has been notified of such loss and does not deny coverage, and the Administrative Agent shall be reasonably satisfied with the credit of such insurer, provided that it shall not be an Event of Default under this clause (ii) if, solely as a result of the occurrence of one or more of the events described in this clause (ii), the Administrative Agent shall not have or shall cease to have a legal, valid and perfected security interest, with the priority required under the Collateral Documents, in Collateral with a fair market value less than $250,000 in the aggregate, or (iviii) any Loan Party shall contest the validity or enforceability of any Loan Document or any provision thereof in writing or deny in writing that it has any further liability, including with respect to future advances by Lenders, under any Loan Document or any provision thereof to which it is a party unless, in the case of clause (i) above, such unenforceability is capable of remedy and the applicable Loan Party remedies such unenforceability within 30 days of it being determined, or in the case of clause (ii) above such Loan Party appeals such declaration and has it finally overturned within 30 days of such declaration having been made, in which case the unenforceability, declaration or failure shall not constitute an Event of Defaultparty; or