Lack of Validity Clause Samples

Lack of Validity. Any provision of any Loan Document shall for any reason cease to be valid and binding, which invalidity (i) renders any Loan Document invalid as a whole, (ii) shall cease to provide for legally adequate remedies for the realization of the payment obligations and security intended to be provided by any Loan Document, or (iii) creates economic consequences of delay and increased costs on the part of the Lender, unless the Borrower or Guarantors, as applicable, execute, within ten (10) Business Days, such amendments to the Loan Documents or such additional agreements or instruments as the Lender deems necessary to make such provision of the Loan Document valid and binding; or
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Lack of Validity. Any provision of this Agreement shall at any time for any reason cease to be valid and binding on the Company, or shall be declared to be null and void, or the validity or enforceability thereof shall be contested by the Company or any other party (excluding the Bank) or any governmental agency or authority or the Company or any other party shall deny that it has any or further liability or obligation under this Agreement; or
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Lack of Validity. Any provision of this Agreement or any Letter of Credit shall at any time for any reason cease to be valid and binding on Borrower or the validity or enforceability thereof shall be contested by Borrower or any other party thereto (excluding Administrative Agent) or any governmental agency or authority (other than the Issuer), or Borrower shall deny that it has any or further liability or obligation under this Agreement or any Letter of Credit Document; or
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Lack of Validity if any Clause in this Contract were to be invalid or not enforceable, for any reason, and at the sole judgment of the Financial Institutions, same were to alter the economical and/or legal requirements that have been the basis of the consent given to this Contract;
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Related to Lack of Validity

  • Period of validity The Rate Contract will be valid for period of two year from the date of issue date of Rate Contract. It may be further extended after approval of competent authority till the finalization of new rate contract, if required.

  • Validity The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

  • Authorization; Validity Each Credit Party has full right, power and authority to enter into this Agreement, to make the borrowings and execute and deliver the Loan Documents as provided herein and to perform all of its duties and obligations under this Agreement and the Loan Documents and no other action or consent on the part of the Credit Parties, its board of directors, stockholders, members, managers, partners, or any other Person is necessary or required by the Credit Parties to execute this Agreement and the Loan Documents, consummate the transactions contemplated herein and therein, and perform all of its obligations hereunder and thereunder. The execution and delivery of this Agreement and the Loan Documents will not, nor will the observance or performance of any of the matters and things herein or therein set forth, violate or contravene any provision of law or of the Credit Parties’ articles of incorporation, bylaws, operating agreement, partnership agreement, or other governing documents. All necessary and appropriate action has been taken on the part of the Credit Parties to authorize the execution and delivery of this Agreement and the Loan Documents and the issuance of the Revolving Note. This Agreement and the Loan Documents are valid and binding agreements and contracts of the Credit Parties, enforceable against the Credit Parties in accordance with their respective terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium and other laws enacted for the relief of debtors generally and other similar laws affecting the enforcement of creditors’ rights generally or by equitable principles which may affect the availability of specific performance and other equitable remedies. The Credit Parties do not know of any reason why the Credit Parties cannot perform any of its obligations under this Agreement, the Loan Documents or any related agreements.

  • Enforceability If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

  • Legal validity Subject to any general principles of law limiting its obligations and referred to in any legal opinion required under this Agreement, each Finance Document to which it is a party is its legally binding, valid and enforceable obligation.