Performance Undertaking. The Performance Undertaking ceases to be effective or to be the legally valid, binding and enforceable obligation of the Performance Guarantor, or the Performance Guarantor directly or indirectly contests in any proceeding in any court or any mediation or arbitral proceeding such effectiveness, validity, binding nature or enforceability of its obligations thereunder; or
Appears in 2 contracts
Sources: Receivables Purchase Agreement (EnerSys), Receivables Purchase Agreement (MSC Industrial Direct Co Inc)