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 the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 13 contracts
Samples: Security Agreement (Continucare Corp), Loan and Security Agreement (Thanksgiving Coffee Co Inc), Loan and Security Agreement (Yp Net 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 the Credit Parties Customer or any Guarantor of any of their respective liabilities or obligations under this Loan Agreement or any of the Loan Documents 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 1-208 of the UCC.
Appears in 10 contracts
Samples: Loan and Security Agreement (Dynacq Healthcare Inc), Loan Agreement (Dreams Inc), Loan Agreement (Main Street & Main 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 the Credit Parties Customer of any of their respective its liabilities or obligations under this Loan Agreement or any of the Loan Documents Additional Agreements to which Customer 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 1-208 of the UCC.
Appears in 8 contracts
Samples: Loan Agreement, Loan and Security Agreement (Stockeryale Inc), Loan and Security Agreement (Stockeryale 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 the Credit Parties of any of their respective liabilities or obligations under this Loan Agreement, the Note or any of the other Loan Documents 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 1-208 of the UCC.
Appears in 6 contracts
Samples: Term Loan Agreement (Axtive Corp), Term Loan and Security Agreement (Stockeryale Inc), Lynch Term Loan and Security Agreement (Thanksgiving Coffee Co 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 the Credit Parties Customer or any Guarantor of any of their respective liabilities or obligations under this Loan Agreement, the Note or any of the Loan Documents other 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 1-208 of the UCC.
Appears in 4 contracts
Samples: Letter Agreement (Lakeland Industries Inc), Letter Agreement (Sel-Leb Marketing Inc), Term Loan and Security Agreement (Whitman Education Group 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 the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent cons stent with the intent of Section 1-208 of the UCC.
Appears in 1 contract
Samples: Loan and Security Agreement (Collegiate Pacific 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 the Credit Parties of any of their respective liabilities or obligations under any of the Loan Documents has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 1 -208 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 the Credit Parties of any of their respective liabilities or obligations under this Loan Agreement, the Note or any of the other Loan Documents 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 1-208 of the UCC.. (g)
Appears in 1 contract
Samples: Merrill Lynch Term Loan and Security Agreement (Orbit International Corp)
Material Impairment. Any event shall occur occur, which shall reasonably cause MLBFS to to, in good faith faith, believe that the prospect of full payment or performance by the Credit Parties of any of their respective liabilities liabilities, or obligations under this loan Agreement, the Note or any of the other Loan Documents Documents, has been materially impaired. The existence of such a material impairment shall be determined in a manner consistent with the intent of Section 1-208 of the UCC.
Appears in 1 contract
Samples: Term Loan and Security Agreement (DND Technologies 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 the Credit Parties Customer of any of their respective its liabilities or obligations under this Loan Agreement, the Note or any of the Loan Documents other Additional Agreements to which Customer 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 1-208 of the UCC.
Appears in 1 contract
Samples: Lynch Term Loan and Security Agreement (Laser Pacific Media Corp)
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 the Credit Parties Customer or any Guarantor of any of their respective liabilities or obligations under this Loan Agreement, the Term WCMA Note or any of the Loan Documents other 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 1-208 of the UCC.
Appears in 1 contract
Samples: Duramed Pharmaceuticals 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 the Credit Parties of any of their respective liabilities or obligations under this Loan Agreement, the Note or any of the other Loan Documents 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 1-208 of the UCC.. (h)
Appears in 1 contract
Samples: Loan and Security Agreement (Orbit International Corp)
