Destruction of Collateral. Any portion of the Collateral shall be seized or taken by a Governmental Body, or any Loan Party or the title and rights of any Loan Party shall have become the subject matter of litigation which might, in the reasonable opinion of the Agent, upon final determination, result in material impairment or loss of the security provided by any Loan Document;
Appears in 3 contracts
Samples: Credit Agreement (Ramaco Resources, Inc.), Credit and Security Agreement (Ramaco Resources, Inc.), Credit and Security Agreement (Ramaco Resources, Inc.)
Destruction of Collateral. Any portion of the Collateral shall be is seized or taken by a Governmental Body, or any Loan Party (or the title and rights of any Loan Party shall have become the Party’s title or rights), are subject matter of to litigation which that might, as determined by Lender in the reasonable opinion of the Agent, upon final determinationits discretion, result in material impairment or loss of the security provided by any Loan Document;, or a casualty occurs as to any material asset used in the conduct of any Loan Party’s business.
Appears in 2 contracts
Samples: Credit and Security Agreement (Enservco Corp), Credit and Security Agreement (Cemtrex Inc)
Destruction of Collateral. Any portion of the Collateral shall be is seized or taken by a Governmental Body, or any Loan Party (or the title and rights of any Loan Party shall have become Party’s title or rights) are the subject matter of to litigation which that might, as determined by Lender in the reasonable opinion of the Agent, upon final determinationits discretion, result in material impairment or loss of the security provided by any Loan Document;, or a casualty occurs as to any material asset used in the conduct of any Loan Party’s business.
Appears in 2 contracts
Samples: Credit and Security Agreement (1847 Holdings LLC), Credit and Security Agreement (1847 Holdings LLC)
Destruction of Collateral. Any portion of the Collateral shall be seized or taken by a Governmental Body, or any Loan Party or the title and rights of any Loan Party shall have become the subject matter of litigation which might, in the reasonable opinion of the AgentLender and taking into account proceeds received in connection therewith, upon final determination, result in material impairment or loss of the security provided by any Loan Document;
Appears in 1 contract
Destruction of Collateral. Any portion of the Collateral shall be seized or taken by a Governmental Body, or any Loan Party or the title and rights of any Loan Party shall have become the subject matter of litigation which might, in the reasonable opinion of the AgentLender, upon final determination, result in material impairment or loss of the security provided by any Loan Document;
Appears in 1 contract
Samples: Credit and Security Agreement (Sifco Industries Inc)
Destruction of Collateral. Any portion of the Collateral shall be seized or taken by a Governmental Body, or any Loan Party or the title and rights of any Loan Party shall have become the subject matter of litigation which might, in the reasonable opinion of the AgentLender, upon final determination, result in material impairment or loss of the security provided by any Loan Documentthis Agreement or the Other Documents;
Appears in 1 contract
Samples: Credit and Security Agreement (Blonder Tongue Laboratories Inc)
Destruction of Collateral. Any portion of the Collateral shall be is seized or taken by a Governmental Body, or any Loan Party (or the title and rights of any Loan Party shall have become Party's title or rights) are the subject matter of to litigation which that might, as determined by Lender in the reasonable opinion of the Agent, upon final determinationits discretion, result in material impairment or loss of the security provided by any Loan Document;, or a casualty occurs as to any material asset used in the conduct of any Loan Party's business.
Appears in 1 contract
Samples: Master Credit and Security Agreement (Salona Global Medical Device Corp)
Destruction of Collateral. Any portion of the Collateral shall be seized or taken by a Governmental Body, or any Loan Party or the title and rights of any Loan Party shall have become the subject matter of litigation which might, in the reasonable opinion of the Agent, upon final determination, result in material impairment or loss of the security provided by any Loan Documentthis Agreement or the Other Documents;
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Radnor Holdings Corp)
Destruction of Collateral. Any portion of the Collateral with a value in excess of $250,000 shall be seized or taken by a Governmental Body, or any Loan Party or the title and rights of any Loan Party shall have become the subject matter of litigation which might, in the reasonable opinion of the Agent, upon final determination, result in material impairment or loss of the security provided by any Loan Documentthis Agreement or the Other Documents;
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Lesco Inc/Oh)
