Collateral Impairment. The loss, theft or destruction of any Collateral, the occurrence of any material deterioration or impairment of any Collateral or any material decline or depreciation in the value or market price thereof (whether actual or reasonably anticipated), which causes any Collateral, in the sole opinion of MLBFS, to become unsatisfactory as to value or character, or any levy, attachment, seizure or confiscation of the Collateral which is not released within ten (10) Business Days.
Appears in 7 contracts
Samples: Term Loan and Security Agreement (Stockeryale Inc), Lynch Term Loan and Security Agreement (Thanksgiving Coffee Co Inc), Term Loan and Security Agreement (DND Technologies Inc)
Collateral Impairment. The loss, theft or destruction of any Collateral, the occurrence of any material deterioration or impairment of any Collateral or any material decline or depreciation in the value or market price thereof (whether actual or reasonably anticipated), which causes any Collateral, in the sole opinion of MLBFS, to become unsatisfactory as to value or character, or any levy, attachment, seizure or confiscation of the Collateral which is not released within ten (10) Business Days.. (i)
Appears in 1 contract
Samples: Merrill Lynch Term Loan and Security Agreement (Orbit International Corp)
