Common use of Termination of Commitment to Lend Clause in Contracts

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretion, there has been a Material Adverse Change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.

Appears in 3 contracts

Samples: Loan and Security Agreement (LendingClub Corp), Loan and Security Agreement (LendingClub Corp), Loan and Security Agreement (LendingClub Corp)

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Termination of Commitment to Lend. Each Lender’s 's obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s 's sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.

Appears in 3 contracts

Samples: Term Loan and Security Agreement (A123 Systems Inc), Loan Modification Agreement (A123 Systems, Inc.), Loan Modification Agreement (A123 Systems, Inc.)

Termination of Commitment to Lend. Each Lender’s 's obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s 's sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from ." and inserting in lieu thereof the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.following:

Appears in 2 contracts

Samples: Loan Modification Agreement (A123 Systems, Inc.), Loan Modification Agreement (A123 Systems, Inc.)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (3PAR Inc.), Loan and Security Agreement (Acclarent Inc)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretiondiscretion made in good faith, there has been a Material Adverse Change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this AgreementChange.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cadence Pharmaceuticals Inc), Loan and Security Agreement (Cadence Pharmaceuticals Inc)

Termination of Commitment to Lend. Each Lender’s 's obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s 's sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement."

Appears in 2 contracts

Samples: Loan Modification Agreement (A123 Systems, Inc.), Loan Modification Agreement (A123 Systems, Inc.)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from .” and inserting in lieu thereof the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.following:

Appears in 1 contract

Samples: Loan Modification Agreement (A123 Systems, Inc.)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretiondiscretion made in good faith, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement. Lender shall give Borrower notice promptly of any such Lender’s decision.

Appears in 1 contract

Samples: Loan and Security Agreement (Hansen Medical Inc)

Termination of Commitment to Lend. Each Lender’s 's obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s 's sole discretiondiscretion made in good faith, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) of Borrower or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent Lenders prior to the execution of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (SGX Pharmaceuticals, Inc.)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretiondiscretion made in good faith, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) of Borrower or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent Lenders prior to the execution of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (TorreyPines Therapeutics, Inc.)

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Termination of Commitment to Lend. Each Without limiting Lenders’ other rights hereunder, each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretiongood faith business judgment, there has been a Material Adverse Change material adverse change in the general affairs, managementbusiness, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Poniard Pharmaceuticals, Inc.)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretiongood faith business judgment, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Cavium Networks)

Termination of Commitment to Lend. (a) Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operationoperations, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.

Appears in 1 contract

Samples: Loan Modification Agreement (Infinera Corp)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.

Appears in 1 contract

Samples: Loan Modification Agreement (A123 Systems, Inc.)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall Committed Line will terminate if, in such Lender’s sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, operation or condition (financial or otherwise) of Borrower or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent Lender prior to the execution of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Senorx Inc)

Termination of Commitment to Lend. Each Lender’s obligation to lend the undisbursed portion of the Obligations shall terminate if, in such Lender’s sole discretion, there has been a Material Adverse Change material adverse change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Administrative Agent prior to the execution of this Agreement.

Appears in 1 contract

Samples: Loan Modification Agreement (A123 Systems, Inc.)

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