Common use of Pre-Existing Condition Clause in Contracts

Pre-Existing Condition. The discovery by the Lender or the Insurer during its continuing due diligence of the TFC Parties of a condition or event which existed at or prior to the execution hereof and which the Lender or, provided that no Insurer Default shall have occurred and be continuing, the Insurer determines materially and adversely affects: (i) the condition (financial or otherwise) of the TFC Parties or (ii) the ability of the TFC Parties or the Lender to fulfill their respective obligations under this Loan Agreement, the Note or the other Loan Documents; or

Pre-Existing Condition. The discovery by the Lender or the ---------------------- Insurer during its continuing due diligence of the TFC Parties of a condition or event which existed at or prior to the execution hereof and which the Lender or, provided that no Insurer Default shall have occurred and be continuing, the Insurer determines materially and adversely affects: (i) the condition (financial or otherwise) of the TFC Parties or (ii) the ability of the TFC Parties or the Lender to fulfill their respective obligations under this Loan Agreement, the Note or the other Loan Documents; or