Credit Deterioration definition

Credit Deterioration means a material deterioration in the creditworthiness of a Customer, as determined by Factor in its sole discretion.
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Examples of Credit Deterioration in a sentence

  • Should Factor so elect, Factor may at any time in Factor's discretion, following a Credit Deterioration affecting a Customer owing Approved Accounts (i) withdraw Client's authority to issue credits to such Customers without Factor's prior written consent; or (ii) litigate Disputes or settle them directly with the Customers on terms acceptable to Factor.

  • To avoid any doubt, if an Event of Default also constitutes a Credit Deterioration Event , each Lender may directly (instead of through the Agent) enforce the right set out in paragraph (3) below, and the Agent may also enforce the right set out in paragraph (3) below without instructions of the Majority Lenders.

  • Should Factor so elect at any time following a Credit Deterioration affecting a Customer owing Approved Accounts, Factor may (i) withdraw Client’s authority to issue credits to such Customer without Factor’s prior written consent; or (ii) *****.

  • Should Factor so elect, Factor may at any time in Factor's discretion, following a Credit Deterioration affecting a Customer owing Approved Accounts (i) withdraw Client's authority to issue credits to such Customers without Factor's prior written consent; or (ii) [*].

  • Unconditional cancellation of Commitment Each Lender has the right to automatically cancel its respective Commitment without any notice if any of Credit Deterioration Event occurs.

Related to Credit Deterioration

  • Deteriorated paint means any interior or exterior paint or other coating that is peeling, chipping, chalking or cracking, or any paint or coating located on an interior or exterior surface or fixture that is otherwise damaged or separated from the substrate.

  • Financial Impairment means that a carrier is not insolvent and is:

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Waste means any waste material (1) containing byproduct material and (2) resulting from the operation by any person or organization of any nuclear facility included within the definition of nuclear facility under paragraph (a) or (b) thereof; “nuclear facility” means

  • Adverse Change A material adverse change occurs in Borrower's financial condition, or Lender believes the prospect of payment or performance of this Note is impaired.