Common use of Material Effect Clause in Contracts

Material Effect. In the opinion of the Banks, there shall not have --------------- occurred (a) any Material Effect, or (b) any material disruption, down-turn or other adverse event in the financial markets or capital markets that adversely affects the credit-worthiness of the Borrower or the investment advisor industry in general.

Material Effect. In the opinion of the Banks, there shall not --------------- have --------------- occurred (a) any Material Effect, or (b) any material disruption, down-turn or other adverse event in the financial markets or capital markets that adversely affects the credit-worthiness of the Borrower or the investment advisor industry in general.