Revocation of Loan Documents Clause Samples
The Revocation of Loan Documents clause establishes the conditions under which previously executed loan documents may be withdrawn, cancelled, or rendered void. Typically, this clause outlines specific events or breaches—such as failure to meet closing conditions or discovery of material misrepresentations—that would trigger revocation. By clearly defining when and how loan documents can be revoked, the clause protects parties from being bound by agreements that are no longer valid or were entered into under false pretenses, thereby ensuring fairness and legal certainty in the lending process.
POPULAR SAMPLE Copied 5 times
Revocation of Loan Documents. Any Loan Party shall (or shall attempt to) disavow, revoke or terminate any Loan Document to which it is a party or any Fee Letter (except for (i) release of a Subsidiary Guarantor or Collateral pursuant to Section 8.14. or 8.15., (ii) termination of the Revolving Credit Commitments in accordance with Section 2.13. and (iii) termination of any Loan Document in accordance with its terms) or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of any Loan Document or any Fee Letter or any Loan Document shall cease to be in full force and effect (except as a result of the express terms thereof).
Revocation of Loan Documents. Any Loan Party shall (or shall attempt to) disavow, revoke or terminate any Loan Document to which it is a party or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of any Loan Document or any Loan Document shall cease to be in full force and effect (except as a result of the express terms thereof).
Revocation of Loan Documents. (i) Any Loan Party shall challenge or repudiate in writing (A) any Loan Document to which it is a party (or that it has no liability under such Loan Documents to which it is a party) or (B) in the case of clause (i), the validity or perfection of any Lien on any Collateral purported to be covered by the Loan Documents (other than with respect to satisfaction in full of the Obligations and releases of such Liens in accordance with the terms of the Loan Documents, to the extent such loss of perfection results from an act or omission of the Administrative Agent or such loss of perfection may be remedied by the filing of appropriate documentation without the loss of priority (other than non-consensual Customary Permitted Encumbrances)), or (ii) any Loan Document shall cease to be in full force and effect or shall be deemed null and void (other than with respect to satisfaction in full of the Obligations and releases of such Liens in accordance with the terms of the Loan Documents, to the extent such loss of perfection results from an act or omission of the Administrative Agent or such loss of perfection may be remedied by the filing of appropriate documentation without the loss of priority (other than non-consensual Customary Permitted Encumbrances)).
Revocation of Loan Documents. Any provision of this Agreement or any provision of any other Loan Document shall for any reason cease to be valid, enforceable and binding on the Borrower or the Guarantors or the Borrower or the Guarantors shall so state in writing.
Revocation of Loan Documents. Any of the Loan Documents or the Contribution Agreement shall be canceled, terminated, revoked or rescinded otherwise than in accordance with the terms thereof or the express prior written agreement, consent or approval of the Lenders, or any action at law, suit in equity or other legal proceeding to cancel, revoke or rescind any of the Loan Documents or the Contribution Agreement shall be commenced by or on behalf of the Borrower or any Guarantor, or any court or any other governmental or regulatory authority or agency of competent jurisdiction shall make a determination, or issue a judgment, order, decree or ruling, to the effect that any one or more of the Loan Documents or the Contribution Agreement is illegal, invalid or unenforceable in accordance with the terms thereof;
Revocation of Loan Documents. The actual or attempted revocation or termination of, or limitation or denial of liability under this Agreement or any other Loan Document by any Loan Party, including any repudiation, purported revocation, or failure by any Guarantor to perform such Guarantor’s obligations hereunder or any other Loan Document;
Revocation of Loan Documents. The Borrower shall (or shall attempt to) disavow, revoke or terminate any Loan Document in writing or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of any Loan Document or any Loan Document shall cease to be in full force and effect (except as a result of the express terms thereof).
Revocation of Loan Documents. Borrower or Guarantor shall disavow, revoke or terminate the Guaranty, the Hazardous Materials Indemnity Agreement or any Loan Document to which it is a party or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of any Loan Document, the Guaranty or the Hazardous Materials Indemnity Agreement; or
Revocation of Loan Documents. The revocation or termination by the Borrower or the Guarantor of any of the Loan Documents; or
Revocation of Loan Documents. (i) Any Loan Party shall (or shall attempt to) disavow, revoke or terminate any Loan Document to which it is a party or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of any Loan Document or any Loan Document shall cease to be in full force and effect (except as a result of the express terms thereof) and (ii) except during a Collateral Suspension Period, any Lien created by any Collateral Document shall cease to be enforceable and perfected and of the same priority purported to be created thereby, or any Loan Party shall so assert in writing for any reason other than (x) as permitted pursuant to the terms hereof and thereof including as a result of a transaction not prohibited under this Agreement or (y) the failure of the Administrative Agent to maintain possession of any certificates representing or evidencing the Collateral actually delivered to it.