Common use of Lack of Validity Clause in Contracts

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