Common use of Defaults; No Material Adverse Effect Clause in Contracts

Defaults; No Material Adverse Effect. (a) No Default or Event of Default has occurred and is continuing. (b) Since the later of (i) the Closing Date and (ii) the last date any Delayed Draw Loans were advanced pursuant to Section 2.01, no event, condition or circumstance has occurred which has resulted in, or could reasonably be expected to result in, a Material Adverse Effect.

Defaults; No Material Adverse Effect. (a) No Default or Event of Default has occurred and is continuing. (b) Since the later of (i) the Closing Date and (ii) the last date any Delayed Draw Revolving Loans were advanced pursuant to Section 2.01, no event, condition or circumstance has occurred which has resulted in, or could reasonably be expected to result in, a Material Adverse Effect.