Material Deterioration definition
Material Deterioration means the value of the Charged Assets at any time being less than 50% (excluding any ordinary wear and tear or depreciation) of (a) the value of the Charged Assets as at the date of this Agreement (determined in accordance with the most recent balance sheet of the Chargor) minus (b) the value of any asset as at the date of this Agreement that is disposed of, sold or otherwise transferred as permitted under the Loan Documents and this Agreement.
Material Deterioration means material deterioration in the Bank’s reasonable opinion;
Material Deterioration means material deterioration in Konnect’s opinion and agreed to by you. If you should not agree within 14 days of being notified by Konnect that a material deterioration has taken place, then the matter will be referred to Konnect’s auditors for their opinion and you agree that the opinion of Konnect’s auditors shall be binding.
Examples of Material Deterioration in a sentence
There shall have been no Material Deterioration in the business, financial condition or operating results of the Company.