Common use of Material Adverse Change; Approvals Clause in Contracts

Material Adverse Change; Approvals. (a) On the Initial Borrowing Date, nothing shall have occurred (and the Administrative Agent shall have become aware of no facts or conditions not previously known to the Administrative Agent) which the Administrative Agent shall determine is reasonably likely to have a material adverse effect on the rights and remedies of the Lenders, or the Administrative Agent, or on the ability of the Borrower or the Borrower and its Subsidiaries, taken as a whole, to perform its or their Obligations, or which is reasonably likely to have a Material Adverse Effect. (b) On or prior to the Initial Borrowing Date, all necessary governmental (domestic and foreign) and third party approvals and/or consents in connection with the Loans, the other transactions contemplated hereby and the granting of Liens under the Credit Documents shall have been obtained and remain in effect, and all applicable waiting periods with respect thereto shall have expired without any action being taken by any competent authority which restrains, prevents or imposes materially adverse conditions upon the consummation of this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein. On the Initial Borrowing Date, there shall not exist any judgment, order, injunction or other restraint issued or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or imposing materially adverse conditions upon this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein.

Material Adverse Change; Approvals. (a) On or prior to the Initial Borrowing Closing Date, nothing shall have occurred (and the Administrative Agent shall have become aware of no facts or conditions not previously known to the Administrative Agent) which the Administrative Agent shall determine is reasonably likely to have a material an adverse effect on the rights and remedies of the Lenders, or the Administrative Agent, or on the ability of the Borrower or the Borrower Parent and its Subsidiaries, taken as a whole, to perform its or their Obligations, or which is reasonably likely to have a Material Adverse Effect. (b) On or prior to the Initial Borrowing Closing Date, all necessary governmental (domestic and foreign) and third party approvals and/or consents (including, without limitation, any contractual approvals agreed to by the Parent or Borrower and the Administrative Agent) in connection with the Loans, the Credit Documents, the other transactions contemplated hereby and thereby and the granting of Liens under the Credit Documents shall have been obtained and remain in effect, and all applicable waiting periods with respect thereto shall have expired without any action being taken by any competent authority which restrains, prevents or imposes materially adverse conditions upon the consummation of this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein. On the Initial Borrowing Closing Date, there shall not exist any judgment, order, injunction or other restraint issued or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or imposing materially adverse conditions upon this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein.

Material Adverse Change; Approvals. (a) On the Initial Borrowing Restatement Effective Date, nothing shall have occurred since December 31, 2010 (and neither the Administrative Agent nor the Required Lenders shall have become aware of no any facts or conditions not previously known to the Administrative AgentAgent or the Required Lenders) which the Administrative Agent or the Required Lenders shall determine is reasonably likely to have a material adverse effect on the rights and remedies of the Lenders, or the Administrative Agent, or on the ability of the Borrower or the Borrower and its Subsidiaries, taken as a whole, to perform its or their Obligations, or which is reasonably likely to have a Material Adverse Effect. (b) On or prior to the Initial Borrowing Date, all necessary governmental (domestic and foreign) and third party approvals and/or consents in connection with the Loans, the other transactions contemplated hereby and the granting of Liens under the Credit Documents shall have been obtained and remain in effect, and all applicable waiting periods with respect thereto shall have expired without any action being taken by any competent authority which restrains, prevents or imposes materially adverse conditions upon the consummation of this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein. On the Initial Borrowing Restatement Effective Date, there shall not exist any judgment, order, injunction or other restraint issued or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or imposing materially adverse conditions upon this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein.

Material Adverse Change; Approvals. (a) On or prior to the Initial Borrowing Closing Date, nothing shall have occurred (and the Administrative Agent or the Lenders shall have become aware of no facts or conditions not previously known to the Administrative AgentAgent or the Lenders) which the Administrative Agent or the Lenders shall determine is reasonably likely to have a material an adverse effect on the rights and remedies of the Lenders, or the Administrative Agent, or on the ability of the Borrower or the Borrower Parent and its Subsidiaries, taken as a whole, to perform its or their Obligations, or which is reasonably likely to have a Material Adverse Effect. (b) On or prior to the Initial Borrowing Closing Date, all necessary governmental (domestic and foreign) and third party approvals and/or consents (including, without limitation, any contractual approvals agreed to by the Parent or Borrower and the Administrative Agent or the Lenders) in connection with the Loans, the Credit Documents, the other transactions contemplated hereby and thereby and the granting of Liens under the Credit Documents shall have been obtained and remain in effect, and all applicable waiting periods with respect thereto shall have expired without any action being taken by any competent authority which restrains, prevents or imposes materially adverse conditions upon the consummation of this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein. On the Initial Borrowing Closing Date, there shall not exist any judgment, order, injunction or other restraint issued or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or imposing materially adverse conditions upon this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein.

Material Adverse Change; Approvals. (a) On the Initial Borrowing Date, nothing shall have occurred (and the Administrative Adminis­trative Agent shall have become aware of no facts or conditions not previously known to the Administrative Agent) since December 31, 2009 which the Administrative Agent shall determine is reasonably likely to have a material adverse effect on the rights and remedies of the Lenders, or the Administrative Agent, or on the ability of the Borrower or the Borrower and its Subsidiaries, taken as a whole, to perform its or their Obligations, or which is reasonably reason­ably likely to have a Material Adverse Effect. (b) On or prior to the Initial Borrowing Date, all necessary governmental (domestic and foreign) and third party approvals and/or consents in connection with the LoansLoan, the other transactions contemplated hereby and the granting of Liens under the Credit Documents shall have been obtained and remain in effect, and all applicable waiting periods with respect thereto shall have expired without any action being taken by any competent authority which restrains, prevents or imposes materially adverse conditions upon the consummation of this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein. On the Initial Borrowing Date, there shall not exist any judgment, order, injunction or other restraint issued or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or imposing materially adverse conditions upon this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein.

Material Adverse Change; Approvals. (a) On the Initial each Vessel Acquisition Borrowing Date, nothing shall have occurred (and the Administrative Adminis­trative Agent shall have become aware of no facts or conditions not previously known to the Administrative Agent) since December 31, 2009 which the Administrative Agent shall determine is reasonably likely to have a material adverse effect on the rights and remedies of the Lenders, or the Administrative Agent, or on the ability of the Borrower or the Borrower and its Subsidiaries, taken as a whole, to perform its or their Obligations, or which is reasonably reason­ably likely to have a Material Adverse Effect. (b) On or prior to the Initial each Vessel Acquisition Borrowing Date, all necessary governmental (domestic and foreign) and third party approvals and/or consents in connection with the Loans, the other transactions contemplated hereby and the granting of Liens under the Credit Documents shall have been obtained and remain in effect, and all applicable waiting periods with respect thereto shall have expired without any action being taken by any competent authority which restrains, prevents or imposes materially adverse conditions upon the consummation of this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein. On the Initial each Vessel Acquisition Borrowing Date, there shall not exist any judgment, order, injunction or other restraint issued or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or imposing materially adverse conditions upon this Agreement or the other transactions contemplated by the Credit Documents or otherwise referred to herein or therein.