Common use of Default Conditions Clause in Contracts

Default Conditions. Any of the following events shall be considered a Default Condition: (a) Any of the Borrowers suffer a material adverse change in its financial condition; and (b) Should any event occur that except for the giving of notice and/or the passage of time would be an Event of Default. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrowers agree that the Lenders, in their sole discretion, and without notice to Borrowers, may immediately cease making any Advances, all without liability whatsoever to Borrowers or any other Person whomsoever, all of which is expressly waived hereby. Borrowers release the Lenders and the Agent from any and all liability whatsoever, whether direct, indirect, or consequential, and whether seen or unforeseen, resulting from or arising out of or in connection with Lenders' determination to cease making Advances pursuant to this Section.

Default Conditions. Any of the following events shall be considered a Default Condition: (a) Any of the Borrowers suffer The Borrower suffers a material adverse change in its financial condition; and (b) Should any event occur that except for the giving of notice and/or the passage of time would be an Event of Default. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrowers agree Borrower agrees that the Lenders, in their sole discretion, and without notice to BorrowersBorrower, may immediately cease making any Advances, all without liability whatsoever to Borrowers Borrower or any other Person whomsoever, all of which is expressly waived hereby. Borrowers release Borrower releases the Lenders and the Agent from any and all liability whatsoever, whether direct, indirect, or consequential, and whether seen or unforeseen, resulting from or arising out of or in connection with Lenders' determination to cease making Advances pursuant to this Section.

Default Conditions. Any of the following events shall be considered a Default Condition: (a) Any of the Borrowers suffer The Borrower suffers a material adverse change in its financial condition, which adverse change would be reflected in Borrower's consolidated Financial Statements under GAAP; and (b) Should any event occur that except for the giving of notice and/or the passage of time would be an Event of Default. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrowers agree Borrower agrees that the Lenders, in their sole discretion, and without notice to BorrowersBorrower, may immediately cease making any Advances, all without liability whatsoever to Borrowers Borrower or any other Person whomsoever, all of which is expressly waived hereby. Borrowers release Borrower releases the Lenders and the Agent from any and all liability whatsoever, whether direct, indirect, or consequential, and whether seen or unforeseen, resulting from or arising out of or in connection with Lenders' determination to cease making Advances pursuant to this Section.