Common use of Loan Documentation Clause in Contracts

Loan Documentation. (i) Any material provision of any Loan Document (including the Guaranty and the Security Agreement) shall cease to be in full force and effect other than as expressly permitted hereunder or thereunder or shall be declared in writing void by a Governmental Authority, or any party thereto (other than a Lender Party) shall claim in writing such unenforceability or invalidity, (ii) any Guarantee purported to be created under the Guaranty shall cease to be in full force and effect, or shall be asserted in writing by the Borrower or any Guarantor not to be in full force and effect other than as expressly permitted hereunder or thereunder or (iii) any security interest in a material portion of 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 (except (x) as to any loss of perfection or priority that results from the failure of the Administrative Agent or the Collateral Agent to file UCC financing statements or continuation statements or maintain possession of any stock certificates or other instruments delivered to it under the Security Agreement, (y) in the event that the Discharge Date shall have occurred or (z) as expressly permitted hereunder or thereunder or as a result of a Disposition, investment, restricted payment or asset sale permitted hereunder).