Common use of Default Conditions Clause in Contracts

Default Conditions. Any of the following events shall be considered a Default Condition: (a) Borrower suffers a material adverse change in its financial condition; and (b) Any event occurs which with the passage of time or giving of notice would become an Event of Default hereunder or an Event of Default under any Guaranty. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrower agrees that the Agent and the Lenders, in Agent's sole discretion, and without notice to Borrower, may immediately cease making any Advances under the Loan Documents, all without liability whatsoever to Borrower or any other Person whomsoever, all of which is expressly waived hereby. Borrower releases Agent and each of the Lenders from any and all liability whatsoever, whether direct, indirect, or consequential, and whether seen or unforeseen, resulting from or arising out of or in connection with Agent's and/or Lenders' determination to cease making Advances pursuant to this Section, unless Agent and/or Lenders act with gross negligence or willful misconduct.

Default Conditions. Any of the following events shall be considered a Default Condition: (a) The Borrower suffers a material adverse change in its financial condition; andor (b) Any Should any event occurs which with occur that except for the giving of notice and/or the passage of time or giving of notice would become be an Event of Default hereunder or an Event of Default under any GuarantyDefault. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrower agrees that subject to Article XII, the Agent and the LendersLenders (including the Swing Line Lender), in Agent's their sole discretion, and without notice to the Borrower, may immediately cease making any Advances under the Loan DocumentsAdvances, all without liability whatsoever to the Borrower or any other Person whomsoever, all of which is expressly waived hereby. The Borrower releases Agent and each of the Lenders (including the Swing Line Lender) and the Agent from any and all liability whatsoever, whether direct, indirect, or consequential, and whether seen or unforeseen, resulting from or arising out of or in connection with Agent's and/or Lenders' determination to cease making Advances pursuant to this Section, unless Agent and/or Lenders act with gross negligence or willful misconduct.

Default Conditions. Any of the following events shall be considered a Default Condition: (a) Borrower suffers a material adverse change in its financial condition; and (b) Any event occurs which with the passage of time or giving of notice would become an Event of Default hereunder or an Event of Default under any the Guaranty. Upon the occurrence of a Default Condition or at any time thereafter until such Default Condition no longer exists, the Borrower agrees that the Agent and the LendersLender, in Agent's its sole discretion, and without notice to Borrower, may immediately cease making any Advances under the Loan Documents, all without liability whatsoever to Borrower or any other Person whomsoever, all of which is expressly waived hereby. Borrower releases Agent and each of the Lenders Lender from any and all liability whatsoever, whether direct, indirect, or consequential, and whether seen or unforeseen, resulting from or arising out of or in connection with AgentLender's and/or Lenders' determination to cease making Advances pursuant to this Section, unless Agent and/or Lenders act Lender acts with gross negligence or willful misconduct.