Security in Jeopardy definition
Security in Jeopardy. If, in the opinion of Lender, the Security Interest for the Financial Facility is in jeopardy or ceases to have effect or if any Transaction Document including any Security Document executed or furnished by or on behalf of the Borrower becomes illegal, invalid, unenforceable or otherwise fails or ceases to be in effect or fails or ceases to provide the benefit of the liens, rights, powers, privileges or Security Interests purported or sought to be created thereby or if any such Transaction Document shall be assigned or otherwise transferred, amended or terminated, repudiated or revoked without the approval of Lender.