Legality; Material Adverse Change. The Bank shall have determined (in its sole discretion) that (a) neither the honoring of any Drawing under the Letter of Credit nor the consummation of any of the transactions contemplated by this Agreement, the Fee Letter or any other Program Document will violate any law, rule, guideline or regulation applicable to the City, the Bank, the Letter of Credit, this Agreement or the Fee Letter, and (b) no material adverse change in the financial condition, business, assets, liabilities or prospects of the Enterprise and no material decrease in the General Airport Revenues shall have occurred since June 30, 2010, except as disclosed in writing to the Bank prior to the Issuance Date, which could reasonably be expected to result in a Material Adverse Effect.
Legality; Material Adverse Change. A certificate of the District shall have been delivered to the Bank, in form and substance satisfactory to the Bank, dated the Effective Date, to the effect that (i) neither the making of any Liquidity Advances or Drawings nor the consummation of any of the transactions contemplated by the Master Indenture, the Second Supplemental Indenture, the Bonds or this Agreement will violate any law, rule, guideline or regulation (or their interpretation) applicable to the District or this Agreement and (ii) in the opinion of the District, no material adverse change in the ratings, financial condition, business, assets, liabilities, operations or prospects of the District shall have occurred since June 30, 2019 except as disclosed in writing to the Bank prior to the Effective Date, which would be reasonably likely to result in a Material Adverse Effect.
Legality; Material Adverse Change. The Bank shall have determined (in its sole discretion) that (i) none of the making of any Advances or the consummation of any of the transactions contemplated by the Resolution, the Bank Note, or this this Agreement will violate any law, rule, guideline or regulation applicable to the Department, the Bank, this Agreement or any other Related Document and (ii) there has been no material adverse change in the laws, rules or regulations (or their interpretation or administration) that, in any case, may adversely affect the consummation of the transactions contemplated hereby or by any Related Document.
Legality; Material Adverse Change. The Bank shall have determined (in its sole discretion) that (i) neither the making of any Liquidity Advances nor the consummation of any of the transactions contemplated by the Related Documents will violate any law, rule, guideline or regulation applicable to the City, the Authority, the Bank or this Agreement and (ii) no change in the ratings, financial condition, business, assets, liabilities or prospects of the City shall have occurred since June 30, 2009, except as disclosed in writing to the Bank prior to the Closing Date or as disclosed in the Offering Document, which could reasonably be expected to have a Material Adverse Effect.
Legality; Material Adverse Change. As of the Closing Date, the Banks shall have determined (in their reasonable discretion) that (i) neither the making of any Advance nor the consummation of any of the transactions contemplated by any of the Related Documents will violate any law, rule, guideline, or regulation (or interpretation or administration thereof) applicable to the State, the Banks or this Agreement and (ii) no material adverse change in the financial condition, business, assets, liabilities, or prospects of the State shall have occurred.
