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 Customer or any Guarantor of any of their respective liabilities or obligations under this Loan Agreement or any of the Additional Agreements to which Customer or such Guarantor is a party has been materially impaired.
Appears in 4 contracts
Sources: Loan Agreement (Gt Bicycles Inc), Employment Agreement (Lakeland Industries Inc), Loan and Security Agreement (Genesis Media Group Inc /De/)
Material Impairment. Any event shall occur which shall reasonably cause MLBFS to in good faith believe that the prospect of full payment or of performance by Customer or any Guarantor of any of their respective liabilities or obligations under this Loan Agreement or Agreement, the Term WCMA Note of any of the other Additional Agreements to which Customer or such Guarantor is a party has been materially impaired.
Appears in 1 contract
Sources: Term Wcma Loan and Security Agreement (Cd Warehouse 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 Customer or any Guarantor of any of their respective liabilities or obligations under this Loan Agreement or any of the 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 1-20B 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 Customer or any Guarantor of any of their respective its liabilities or obligations under this Loan Agreement or any of the Additional Agreements to which Customer or such Guarantor is a party has been materially impaired.
Appears in 1 contract
Sources: Loan and Security Agreement (Faro Technologies Inc)