Individual Material Adverse Effect means, in respect of a Property, any event or condition that has a material adverse effect on the value, use, occupation, leasing or marketability of such Property or results in any material liability to, claim against or obligation of Lender or material liability or obligation on the part of any Loan Party.
Individual Material Adverse Effect means any event or condition that, either singly or in the aggregate, could reasonably be expected to have or result in a material adverse effect upon (a) the business, operations, economic performance, prospects, assets or condition (financial or otherwise) of (i) any Borrower, any Senior Mezzanine Borrower or any Mortgage Borrower, (ii) Guarantor, (iii) any Operating Company, (iv) any Operating Lease or Operating Lease Guaranty or (v) the Collateral, the Senior Mezzanine Collateral or any Individual Property or any Hotel Component or Casino Component thereon; (b) the ability of any Borrower, any Senior Mezzanine Borrower, any Mortgage Borrower or Guarantor to perform, in all material respects, its obligations under each of the Loan Documents, Senior Mezzanine Loan Documents or Mortgage Loan Documents to which it is a party; (c) the ability of any Operating Company to perform, in all material respects, its obligations under its Lease; (d) the enforceability or validity of (i) any Operating Lease or Operating Lease Guaranty, or (ii) any Loan Document, Senior Mezzanine Loan Document, Mortgage Loan Document or the perfection or priority of any Lien created under any Loan Document, Senior Mezzanine Loan Document or Mortgage Loan Document; (e) the value of, or cash flow from, any Individual Property, the Collateral, the Senior Mezzanine Collateral or the operations thereof; or (f) the material rights, interests and remedies of Lender under any of the Loan Documents.
Individual Material Adverse Effect means, in respect of an individual Property, any event or condition that has a material adverse effect on the value, use, occupation, leasing or marketability of such Property or results in any liability to, claim against or obligation of any Lender or any materially adverse liability or obligation on the part of any Relevant Party. For the avoidance of doubt, and without any implication to the contrary, any reference to a Property in a Single Plat Development for purposes of an “Individual Material Adverse Effect” shall refer to the individual single family home or one to four unit residential real property and not to the entirety of the Single Plat Development.
Examples of Individual Material Adverse Effect in a sentence
There are no orders, injunctions, decrees or judgments outstanding with respect to the Property that would reasonably be expected to have an Individual Material Adverse Effect on such Property.
Borrower possesses all rights, licenses, permits and authorizations (governmental or otherwise) necessary to entitle it to own its properties and to transact the businesses in which it is now engaged and the failure to possess which would reasonably be expected to have an Individual Material Adverse Effect.
Each Operating Company possesses all rights, licenses, permits and authorizations (governmental or otherwise) necessary to entitle it to operate the Properties currently operated by each such Operating Company and to transact the businesses in which it is now engaged and the failure to possess which would reasonably be expected to have an Individual Material Adverse Effect.
There is no material fact presently known to Borrower which has not been disclosed to Lender which has, nor as far as Borrower can foresee, might reasonably be expected to have an Individual Material Adverse Effect or an Aggregate Material Adverse Effect.
Borrower shall not enter into any agreement or instrument or become subject to any restriction which would reasonably be expected to have an Individual Material Adverse Effect on any Property.
More Definitions of Individual Material Adverse Effect
Individual Material Adverse Effect means any event or condition that, either singly or in the aggregate, could reasonably be expected to have or result in a material adverse effect upon (a) the business, operations, economic performance, prospects, assets or condition (financial or otherwise) of (i) any Borrower, (ii) Guarantor, (iii) any Operating Company, (iv) any Operating Lease or Operating Lease Guaranty or (v) any Individual Property or any Hotel Component or Casino Component thereon; (b) the ability of any Borrower or Guarantor to perform, in all material respects, its obligations under each of the Loan Documents to which it is a party; (c) the ability of any Operating Company to perform, in all material respects, its obligations under its Lease; (d) the enforceability or validity of (i) any Operating Lease or Operating Lease Guaranty, or (ii) any Loan Document or the perfection or priority of any Lien created under any Loan Document; (e) the value of, or cash flow from, any Individual Property or the operations thereof; or (f) the material rights, interests and remedies of Lender under any of the Loan Documents.
Individual Material Adverse Effect means, in respect of an Individual Property and/or any Individual Mortgage Borrower, any event or condition that has a material adverse effect on (a) the use, operation, or value of the Individual Property, the Collateral related thereto and/or the applicable Individual Mortgage Borrower, (b) the business, profits, operations or financial condition of the applicable Individual Mortgage Borrower and/or Borrower, (c) the enforceability, validity, perfection or priority of the lien of the applicable Security Instrument, the Pledge Agreement or the other Loan Documents and/or Mortgage Loan Documents, or (d) the ability of the applicable Individual Borrower to satisfy any of the material obligations under the Loan Documents applicable to such Individual Borrower or the ability of any Individual Mortgage Borrower to satisfy any of the material obligations under the Mortgage Loan Documents applicable to such Individual Mortgage Borrower.
Individual Material Adverse Effect means in respect of an Individual Property, any event or condition that has a material adverse effect on (a) the use, operation, or value of the Individual Property, (b) the business, profits, operations or financial condition of the applicable Borrower, (c) the enforceability, validity, perfection or priority of the lien of the Security Instrument or the other Loan Documents, or (d) the ability of the applicable Borrower to repay the principal and interest of the Allocated Loan Amount as it becomes due or to satisfy any of the applicable Borrower’s other obligations under the Loan Documents.
Individual Material Adverse Effect means obligations, liabilities, occurrences, agreements or circumstances that would involve the expenditure of more than Ten Million Dollars ($10,000,000), in the aggregate, in the case of any Acquired Company listed on Schedule 1 to the Additional Representations Certificate, or Twenty-Five Million Dollars ($25,000,000), in the aggregate, in the case of any Acquired Company listed on Schedule 2 to the Additional Representations Certificate, or any material adverse effect, development or change in relation to the business, properties, assets, financial condition, results or prospects of each group of Acquired Companies whose functions or operations relate to a given country (each group to be taken separately), provided that any such effects, developments or changes resulting from or attributable to any of the following will be disregarded for this purpose: (a) the announcement, implementation and closing of this Agreement and the transactions and matters contemplated thereby, including any breach or violation by Purchaser of this Agreement and the agreements contemplated thereby and the consequences thereof, (b) any Known Debt Defaults and any further defaults, restructurings, modifications of any Debt of the Acquired Companies, including discussions, negotiations, proposals and solicitations relating thereto or any downgrading of such Debt, (c) general economic or business conditions involving the United States or any country in which Purchaser, Sellers or any Acquired Company conducts its principal business and (d) changes affecting the industries generally in which the Business operates.
Individual Material Adverse Effect means any event or condition that, either singly or in the aggregate, could reasonably be expected to have or result in a material adverse effect upon (a) the business, operations, economic performance, prospects, assets or condition (financial or otherwise) of (i) any Borrower or any Mortgage Borrower, (ii) Guarantor, (iii) any Operating Company, (iv) any Operating Lease or Operating Lease Guaranty or (v) the Collateral or any Individual Property or any Hotel Component or Casino Component thereon; (b) the ability of any Borrower, any Mortgage Borrower or Guarantor to perform, in all material respects, its obligations under each of the Loan Documents or Mortgage Loan Documents to which it is a party; (c) the ability of any Operating Company to perform, in all material respects, its obligations under its Lease; (d) the enforceability or validity of (i) any Operating Lease or Operating Lease Guaranty, or (ii) any Loan Document, Mortgage Loan Document or the perfection or priority of any Lien created under any Loan Document or Mortgage Loan Document; (e) the value of, or cash flow from, any Individual Property, the Collateral or the operations thereof; or (f) the material rights, interests and remedies of Lender under any of the Loan Documents.
Individual Material Adverse Effect means, in Lender’s reasonable judgment, in respect of an Individual Property, any event or condition that has a material adverse effect on the use, operation, or value of such Individual Property.
Individual Material Adverse Effect means any event or condition that, either singly or in the aggregate, could reasonably be expected to have or result in a material adverse effect upon (a) the business, operations, economic performance, prospects, assets or condition (financial or otherwise) of (i) any Borrower, (ii) Guarantor, (iii) any Operating Company, (iv) any Operating Lease or Operating Lease Guaranty, (v) any Manager or any Management Agreement or (vi) any Individual Property or any Hotel Component or Casino Component thereon; (b) the ability of any Borrower or Guarantor to perform, in all material respects, its obligations under each of the Loan Documents to which it is a party; (c) the ability of any Operating Company to perform, in all material respects, its obligations under its Lease; (d) the ability of any Manager to perform, in all material respects, its obligations under the Management Agreement or any one of the Management Agreements; (e) the enforceability or validity of (i) any Operating Lease or Operating Lease Guaranty, or (ii) any Loan Document or the perfection or priority of any Lien created under any Loan Document; (f) the value of, or cash flow from, any Individual Property or the operations thereof; or (g) the material rights, interests and remedies of any Lender under any of the Loan Documents.