Common use of Adverse Circumstances Clause in Contracts

Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could adversely affect the validity or priority of the Liens granted to Lender under the Loan Documents; (ii) could adversely affect the ability of the Credit Parties to perform its obligations under the Loan Documents; (iii) would constitute a default under any of the Loan Documents; (iv) would constitute such a default with the giving of notice or lapse of time or both; or (v) would constitute or give rise to a Material Adverse Effect.

Appears in 15 contracts

Samples: Senior Secured Credit Facility Agreement (Pacific Ventures Group, Inc.), Senior Secured Credit Facility Agreement (Sack Lunch Productions Inc.), Senior Secured Credit Facility Agreement (Sack Lunch Productions Inc.)

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Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could adversely affect the validity or priority of the Liens granted to Lender under the Loan Documents; (ii) could adversely affect the ability of the Credit Parties any Borrower to perform its obligations under the Loan Documents; (iii) would constitute a default under any of the Loan Documents; (iv) would constitute such a default with the giving of notice or lapse of time or both; or (v) would constitute or give rise to a Material Adverse Effect.

Appears in 5 contracts

Samples: Credit Agreement (Dr. Tattoff, Inc.), Credit Agreement (Petron Energy II, Inc.), Credit Agreement (M Line Holdings Inc)

Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could adversely affect the validity or priority of the Liens granted to Lender under the Loan Documents; (ii) could adversely affect the ability of the Credit Parties Borrower to perform its obligations under the Loan Documents; (iii) would constitute a default under any of the Loan Documents; (iv) would constitute such a default with the giving of notice or lapse of time or both; or (v) would constitute or give rise to a Material Adverse Effect.

Appears in 3 contracts

Samples: Credit Agreement, Credit Agreement (THEDIRECTORY.COM, Inc.), Credit Agreement (Social Reality)

Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could adversely affect the validity or priority of the Liens granted to Lender under the Loan Documents; (ii) could materially adversely affect the ability of the Credit Parties Borrower to perform its obligations under the Loan Documents; (iii) would constitute a default under any of the Loan Documents; (iv) would constitute such a default with the giving of notice or lapse of time or both; or (v) would constitute or give rise to a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Wowio, Inc.), Credit Agreement (Jammin Java Corp.)

Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding proceeding (or threatened litigation or Proceeding proceeding or basis therefor) exists which: which (ia) could adversely affect the validity or priority of the Liens granted to the Lender under the Loan Documents; , (iib) could materially adversely affect the ability of the Credit Parties Borrower to perform its obligations under the Loan Documents; , (iiic) would constitute a default an Event of Default under any of the Loan Documents; , or (ivd) would constitute such a default an Event of Default with the giving of notice or lapse of time or both; or (v) would constitute or give rise to a Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Chromcraft Revington Inc)

Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could adversely affect the validity or priority of the Liens granted to Lender under the Loan Documents; (ii) could materially adversely affect the collective ability of the Credit Parties Borrowers to perform its their obligations under the Loan Documents; (iii) would constitute a default under any of the Loan Documents; (iv) would constitute such a default with the giving of notice or lapse of time or both; or (v) would constitute or give rise to a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Speedemissions Inc)

Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding proceeding (or threatened litigation or Proceeding proceeding or basis therefor) exists which: which (ia) could adversely affect the validity or priority of the Liens granted to Lender the Agent and the Lenders under the Loan Documents; , (iib) could materially adversely affect the ability of the Credit Parties Borrower to perform its obligations under the Loan Documents; , (iiic) would constitute a default under any of the Loan Documents; , or (ivd) would constitute such a default with the giving of notice or lapse of time or both; or (v) would constitute or give rise to a Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Medirect Latino Inc)

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Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could adversely affect the validity or priority of the Liens granted to Lender under the Loan Documents; (ii) could adversely affect the ability of the Credit Parties Borrower to perform its obligations under the Loan Documents; (iiiii) would constitute a default under any of the Loan Documents; (iviii) would constitute such a default with the giving of notice or lapse of time or both; or (viv) would constitute or give rise to a Material Adverse Effect.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Credex Corp)

Adverse Circumstances. No condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding proceeding (or threatened litigation or Proceeding proceeding or basis therefor) exists which: (i) could adversely affect the validity or priority of the Liens granted to Lender under the Loan Documents; (ii) could materially adversely affect the collective ability of the Credit Parties Borrowers to perform its their obligations under the Loan Documents; (iii) would constitute a default under any of the Loan Documents; (iv) would constitute such a default with the giving of notice or lapse of time or both; or (v) would constitute or give rise to a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Poet Technologies Inc.)

Adverse Circumstances. No known condition, circumstance, event, agreement, document, instrument, restriction, litigation or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could would adversely affect the validity or priority of the Liens granted to Lender under the Loan Documents; (ii) could reasonably be expected to materially and adversely affect the ability of the Credit Parties any Borrower to perform its obligations under the Loan Documents; (iii) would constitute a default an Event of Default under any of the Loan Documents; (iv) would constitute such a default an Event of Default with the giving of notice or lapse of time or both; or (v) would constitute or could reasonably be expected to give rise to a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Blue Earth, Inc.)

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