Failure of Lien. Any Collateral Document shall for any reason cease --------------- to create a valid Lien on any of the Collateral purported to be covered thereby or, except as permitted by the Loan Documents, such Lien shall cease to be a perfected and first priority Lien (subject to the Liens permitted under Section 7.04 hereof)or the Borrower or any Guarantor shall ------------ so state in writing, or".
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Failure of Lien. Any Collateral Document shall for any reason cease --------------- to create a valid Lien on any of the Collateral purported to be covered thereby or, except as permitted by the Loan Documents, such Lien shall cease to be a perfected and first priority Lien (subject to the Liens permitted under Section 7.04 hereof)or the Borrower or any Guarantor ------------ shall ------------ so state in writing, or".
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