Common use of Loan Documents; Failure of Security Clause in Contracts

Loan Documents; Failure of Security. At any time, for any reason, (i) any Loan Document as a whole that affects the ability of the Lender to enforce the Obligations or enforce its rights against the Collateral ceases to be in full force and effect or the Borrower or any of the Borrower's Subsidiaries party thereto seeks to repudiate its obligations thereunder and the liens intended to be created thereby are, or the Borrower or any such Subsidiary seeks to render such liens, invalid or unperfected, or (ii) any lien on Collateral in favor of the Lender contemplated by the Loan Documents shall, at any time, for any reason, be invalidated or otherwise cease to be in full force and effect or such lien shall not have the priority contemplated by this Agreement or the Loan Documents and such failure shall continue for three (3) days after the occurrence thereof.

Loan Documents; Failure of Security. At any time, for any reason, (i) any Loan Document as a whole that materially affects the ability of the Lender to enforce the Obligations or enforce its rights against the Collateral ceases to be in full force and effect or the Borrower or any of the Borrower's Subsidiaries party thereto seeks to repudiate its obligations thereunder and the liens Liens intended to be created thereby are, or the Borrower or any such Subsidiary seeks to render such liensLiens, invalid or unperfected, or (ii) any lien Lien on Collateral in favor of the Lender contemplated by the Loan Documents shall, at any time, for any reason, be invalidated or otherwise cease to be in full force and effect or such lien Lien shall not have the priority contemplated by this Agreement or the Loan Documents and such failure shall continue for three (3) days after the occurrence thereof.

Loan Documents; Failure of Security. At any time, for any ----------------------------------- reason, (i) any Loan Document as a whole that affects the ability of the Lender to enforce the Obligations or enforce its rights against the Collateral ceases to be in full force and effect or the Borrower or any of the Borrower's Subsidiaries party thereto seeks to repudiate its obligations thereunder and the liens Liens intended to be created thereby are, or the Borrower or any such Subsidiary seeks to render such liensLiens, invalid or unperfected, or (ii) any lien Lien on Collateral in favor of the Lender contemplated by the Loan Documents shallis, at any time, for any reason, be invalidated or otherwise cease ceases to be in full force and effect or such lien shall Lien does not have the priority contemplated by this Agreement or the Loan Documents and such failure shall continue continues for three (3) days after the occurrence written notice thereof.