Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 13 contracts
Sources: Loan and Security Agreement (Continucare Corp), Loan and Security Agreement (Derma Sciences Inc), Loan and Security Agreement (Yp Net Inc)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties Customer or any Guarantor of any of their respective liabilities or obligations under this Loan Agreement or any of the Loan Documents Additional Agreements to which Customer or such Guarantor is a party has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 10 contracts
Sources: Loan and Security Agreement (Dynacq Healthcare Inc), Loan and Security Agreement (Novo Mediagroup Inc), Wcma Reducing Revolver Loan Agreement (Main Street & Main Inc)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties Customer of any of their respective its liabilities or obligations under this Loan Agreement or any of the Loan Documents Additional Agreements to which Customer is a party has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 8 contracts
Sources: Annual Report, Loan Agreement (Stockeryale Inc), Loan and Security Agreement (Stockeryale Inc)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities or obligations under this Loan Agreement, the Note or any of the other Loan Documents or such Guarantor is a party has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 8 contracts
Sources: Term Loan and Security Agreement (Thanksgiving Coffee Co Inc), Term Loan Agreement (Axtive Corp), Term Loan and Security Agreement (Stockeryale Inc)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties Customer or any Guarantor of any of their respective liabilities or obligations under this Loan Agreement, the Note or any of the Loan Documents other Additional Agreements to which Customer or such Guarantor is a party has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 4 contracts
Sources: Line of Credit Extension Agreement (Lakeland Industries Inc), Wcma Line of Credit Increase (Sel-Leb Marketing Inc), Lease Agreement (Lakeland Industries Inc)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents ▇▇▇▇▇▇▇ has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 2 contracts
Sources: Security Agreement, Wcma Line of Credit Increase (Sel-Leb Marketing Inc)
Material Impairment. Any event shall occur occur, which shall reasonably cause MLBFS to to, in good faith faith, believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities liabilities, or obligations under this loan Agreement, the Note or any of the other Loan Documents Documents, has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 1 contract
Sources: Term Loan and Security Agreement (DND Technologies Inc)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents Customer has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 1 contract
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents G▇▇▇▇▇▇ has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 1 contract
Sources: Line of Credit Extension Agreement (Lakeland Industries Inc)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties Customer of any of their respective its liabilities or obligations under this Loan Agreement, the Note or any of the Loan Documents other Additional Agreements to which Customer is a party has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 1 contract
Sources: Term Loan and Security Agreement (Laser Pacific Media Corp)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent cons stent with the intent of Section 1-208 of the UCC.
Appears in 1 contract
Sources: Loan and Security Agreement (Collegiate Pacific Inc)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 1 -208 of the UCC.
Appears in 1 contract
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or performance by the Credit Parties of Customer or any of their respective liabilities or obligations under any of the Loan Documents Guarantor has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 1 contract