Material Adverse Deviation Sample Clauses

Material Adverse Deviation. At any time after both (a) one or more Loans in the aggregate principal amount of $17,500,000 have been made to Borrowers and (b) Excess Availability is less than $5,000,000, Borrowers and Guarantors shall not permit a Material Adverse Deviation to occur; provided, that if Borrowers fail to deliver to the Agent and each Lender an updated Budget at the end of each quarter in accordance with Section 7.1(c)(3) which is in form and substance satisfactory to the Agents (which approval shall not be unreasonably withheld), a Material Adverse Deviation shall be deemed to have occured.