Common use of Defective Collateralization Clause in Contracts

Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.

Appears in 5 contracts

Sources: Deed of Trust (Rocky Mountain Chocolate Factory, Inc.), Business Loan Agreement (Clearday, Inc.), Deed of Trust (Eaco Corp)

Defective Collateralization. This Deed of Trust or any Any of the Related Documents ceases to be in full force and effect (including failure of any collateral document the Deed of Trust to create a valid and perfected security interest or lien) at any time and for any reason.

Appears in 1 contract

Sources: Term Loan Agreement (Dicon Fiberoptics Inc)