Invalid Security Sample Clauses

Invalid Security if any of the Security shall cease to be a valid and perfected 1st security interest as against third parties subject only to Permitted Encumbrances and such state continues for more than two business (2) days;
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Invalid Security. If the Administrators consider that a claimed Security is invalid in whole or in part, the Administrators will prepare a statement of their reasons for the rejection, which will be provided to the creditor as soon as reasonably practicable after the decision is made, and in any event within 21 days. The creditor will have 21 days from being provided with those reasons to notify the Administrators that it requires its claim to be determined by an independent adjudicator. The process for adjudication is set out further below.
Sample 1
Invalid Security at any time after a Chargor Security Document has been entered into (but subject to any reservations as to matters of law in the applicable legal opinions provided in relation to such Chargor Security Document and any registrations as required by such Chargor Security Document) any security given by a Chargor pursuant to such document becomes ineffective or ceases to be legal, valid, binding and enforceable in whole or in part (but, if in part, over assets the aggregate value of which is not less than €5,000,000) or otherwise loses its priority under applicable law.
Sample 1

Related to Invalid Security

  • Invalid or Unenforceable Provisions The invalidity or unenforceability of any particular provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if the invalid or unenforceable provisions were omitted.

  • Invalid Transfers Any disposition of the RSUs other than in strict compliance with the provisions of this Agreement shall be void.

  • Unenforceable Provisions If any provision of this Agreement is deemed unenforceable, the rest of the Agreement shall remain in effect and the Parties shall negotiate in good faith and seek to agree upon a substitute provision that will achieve the original intent of the Parties.

  • Invalidity Any provision of this Agreement which may be determined by competent authority to be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. In such case, the parties shall in good faith modify or substitute such provision consistent with the original intent of the parties.

  • Invalidity or Unenforceability In case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

  • Invalid Assignment Any purported assignment of an Interest of the Limited Partner or the Special Limited Partner otherwise than in accordance with Section 12.1 or Section 12.6 shall be of no effect as between the Partnership and the purported assignee and shall be disregarded by the General Partner in making allocations and Distributions hereunder.

  • Invalid Provision The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted.

  • Invalidity, Etc Any provision hereof which is prohibited or unenforceable shall be ineffective only to the extent of such prohibition or unenforceability, without invalidating the remaining provisions hereof.

  • Invalid Provisions If any provision of this Agreement is held to be illegal, invalid or unenforceable under any present or future Law, and if the rights or obligations of any party hereto under this Agreement will not be materially and adversely affected thereby, (a) such provision will be fully severable, (b) this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part hereof, (c) the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom and (d) in lieu of such illegal, invalid or unenforceable provision, there will be added automatically as a part of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible.

  • Invalidity and Severability If any provision of this Agreement shall be found by any court or administrative body of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provision shall not affect the other provisions of this Agreement and all provisions not affected by such invalidity or unenforceability shall remain in full force and effect. The parties hereby agree to attempt to substitute for any invalid or unenforceable provision a valid or enforceable provision which achieves to the greatest extent possible the economic legal and commercial objectives of the invalid or unenforceable provision.

Time is Money Join Law Insider Premium to draft better contracts faster.