Ok, a colleague and I, at work, had a discussion on black holes in an MPLS network.  The scenario is this:  PE router with 2 trunks to the MPLS cloud loses OSPF.
[PE] GE 1/0
(Core router 1)
{MPLS Cloud}
GE 2/0
(Core router 2)
{MPLS Cloud}
- OSPF down on both links
 
- LDP      and BGP stayed up
 
My Argument:
If OSPF goes down, and LDP neighbor stays up, customer traffic will be black holed because BGP will have a label to a FEC that does not exist in the routing table.  LDP will also have an IP binding to an address that is not in the routing table, thus leaving the router to believe a forwarding path exists across an LSP.
My ENEMIES argument:
IGP has a path.  It goes to Label base and says, give me a label for this path.  It then gives it to FIB to install for forwarding.
IGP path goes away, path gets removed from LFIB.  LFIB takes it away from FIB.  Path won’t be picked to forward.
I need to have this concept down before I continue.  I cannot go forward if my understanding and interpretation of what I read is wrong.
What say you?