Material Effect definition
Examples of Material Effect in a sentence
Except as would not reasonably be expected to have a Company Material Effect, assets of the Company and Subsidiaries necessary for the normal operation of the Company and the Subsidiaries, including assets leased, are in good operating condition, regularly and properly maintained, and fit for the operation in the ordinary course of the Company’s and Subsidiaries’ business, subject to normal wear and tear and subject to the decommissioning or repair of certain vehicles in the ordinary course of business.
All such Permits are in full force and effect, no violations have occurred with respect to any such Permits, and no proceeding is pending or, to the Knowledge of 1st Financial, threatened or probable of assertion, to suspend, cancel, revoke or limit any Permit, except in cases in which the failure to obtain or maintain in force any such Permit, or the violation thereof, will not have a 1st Financial Material Effect.
City and each of its subsidiaries (including Merger Sub) is duly qualified or licensed to do business and is in good standing in each jurisdiction in which the nature of its business or the ownership, leasing or operation of its properties makes such qualification or licensing necessary, other than in such jurisdictions where the failure to be so qualified or licensed or be in good standing individually or in the aggregate could not reasonably be expected to have a City Material Effect.
The Company has no knowledge of any liability that it reasonably believes would result in a Material Effect, other than those (a) reflected or reserved against in the unaudited consolidated balance sheet of the Company and its consolidated Subsidiaries at March 31, 2000, or disclosed in other Company SEC Documents or (b) incurred in the ordinary course of business since March 31, 2000.
To inform the Creditors in writing within five Bank Business Days of having learned of any dispute, interim measure, action, or in general any relevant claim or proceeding commenced against the Company or its Subsidiaries, or that affects the Financing Documents, before any ordinary or special court, arbitrator, public or private body, before any Government Authority, or before any other entity having jurisdiction of any nature, that may reasonably give rise to an Adverse Material Effect.