Defective Collateralization. Any of the Loan Documents ceases to be in full force and effect (including failure of any Security Agreement to create a valid and perfected Security Interest for the payment of the Loan) at any time and for any reason.
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Sources: Loan and Financing Agreement
Defective Collateralization. Any The Loan Documents or any of the Loan Related Documents ceases to be in full force and effect (including failure of any Security Agreement to create a valid and perfected Security Interest for the payment of the Loan) at any time and for any reason, including the failure of any Related Document to create a valid and perfected first-priority security interest or Lien as contemplated therein, except for Liens described in clause (e) or clause (f) of the definition of Permitted Liens.
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Sources: Credit and Reimbursement Agreement (Alliance Medical Corp)
Defective Collateralization. Any of the Loan Documents Document or Related Document ceases to be in full force and effect (including failure of any Security Agreement to create a valid and perfected Security Interest for the payment of the Loan) at any time and for any reason, including the failure of any applicable Loan Document or Related Document to create a valid and perfected first-priority security interest or Lien as contemplated therein, except for Liens described in clause (e) or clause (f) of the definition of Permitted Liens.
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