Material Adverse Effect on Collateral Sample Clauses
The 'Material Adverse Effect on Collateral' clause defines circumstances in which a significant negative change impacts the value, condition, or enforceability of the collateral securing an agreement. In practice, this clause typically applies to events such as substantial damage, loss, or legal impairment of the collateral, which could undermine the lender's security interest or ability to recover the loaned amount. Its core function is to protect the lender by providing grounds for remedial action, such as demanding additional collateral or declaring a default, if the collateral's value or reliability is materially diminished.
Material Adverse Effect on Collateral. The Borrower shall furnish the Lender notice promptly upon Borrower becoming aware of any default related to any Collateral which should reasonably be expected to have a Material Adverse Effect.
Material Adverse Effect on Collateral. As soon as possible, upon the Borrower becoming aware of any default related to any Collateral which should reasonably be expected to have a Material Adverse Effect;
Material Adverse Effect on Collateral. Promptly upon any North American Group Member becoming aware of any default or any event or change in circumstances related to any Collateral which, in each case, could reasonably be expected to have a Material Adverse Effect;