Common use of Invalidity of Credit Documents Clause in Contracts

Invalidity of Credit Documents. Any Credit Document shall fail to be in full force and effect or to give the Administrative Agent and/or the Lenders the security interests, liens, rights, powers, priority and privileges purported to be created thereby (except as such documents may be terminated or no longer in force and effect in accordance with the terms thereof, other than those indemnities and provisions which by their terms shall survive) or any Lien required under the Credit Documents or the Security Documents to be a first priority, perfected Lien shall fail to be a first priority, perfected Lien (subject to Permitted Liens) on a material portion of the Collateral (except to the extent that such failure results from the failure of the Administrative Agent to maintain possession of Collateral previously delivered to the Administrative Agent as to which possession is required for perfection); or