Material Impairment shall have the meaning set forth in Section 6.4(c)(iii).
Material Impairment means a material adverse effect on the value of the Collateral, or the rights of any Secured Party in respect thereof, including the rights to levy legal process or to sell the Collateral upon foreclosure.
Material Impairment means a material impairment of the Company's financial condition or of the Company's ability to operate the Business as currently conducted or of the Company's ability to consummate the transactions contemplated hereby.
Examples of Material Impairment in a sentence
Material Impairment and Significant RiskCommenters to the proposed rule suggested revising definitions for exposed, hazardous chemical, and health hazard, among others, so the terms would include the concepts of material impairment and significant risk.
Information on goodwill and impairment loss on noncurrent assets for each reportable segment (Material Impairment loss on Fixed Assets) Not applicable.
OSHA has rejected, for recordkeeping purposes, the use of the 25 dB shift from audiometric zero prescribed by the American Medical Association Guidelines for Material Impairment.
These contracts have been competitively bid, so it eliminates the need for the agency to bid their project them- selves.
Required Impairment Testing and Material Impairment 78AA Further to paragraph 73, pursuant to AASB136, impairment testing was required at 30 June 2015 and the Appendix 4E PSD Goodwill Asset and/or the PSD Goodwill Asset ought to have been subject to impairment testing and a material impairment as at 30 June 2015.
More Definitions of Material Impairment
Material Impairment means a material adverse effect on the value of any material Collateral or the rights of the Collateral Agent (acting for the benefit of the Secured Parties) in respect thereof, including the rights to levy legal process or to sell such Collateral upon foreclosure.
Material Impairment means any one or more of the following has occurred or exists: (a) the dollar amount collected with respect to Accounts during any consecutive 3 month period (“Test Period”) diminishes by twenty percent (20%) or more in comparison to the immediately preceding consecutive 3 month period (ending the prior month) (“Comparison Period”), or Accounts Turnover increases by more than twenty (20) days within the Test Period in comparison to the Accounts Turnover in the Comparison Period;; (b) INTENTIONALLY BLANK; (c) Borrower uses any amount of its cash flow for a purpose that is not related to its core business operations, including, without limitation, investment in, merger with, or acquisition of all or substantially all of the business and assets of, a third party; (d) INTENTIONALLY BLANK; (e) effective March 1, 2010, more than fifty percent (50%) of Borrower’s accounts payable are greater than sixty (60) days from invoice date; (f) INTENTIONALLY BLANK; (g) since the date of this Agreement, the value of the Collateral has diminished by more than twenty percent (20%), the forgoing measurements shall exclude changes in the Collateral value due either to (x) new invoices for Borrower’s Accounts and remittances received from Borrower’s Accounts, or (y) orders of inventory; or (h) the priority of Lender’s security interest in the Collateral is contested by any Person.
Material Impairment for purposes of this Agreement includes without limitation (i) Borrower sustains a net operating loss for twelve consecutive months; and (ii) Borrower uses a substantial amount of funds from the business for a non-business purpose. NOTICE OF FINAL AGREEMENT ------------------------- THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES, AND THE SAME MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
Material Impairment means an impairment, reduction, event, effect or condition which materially impacts or effects (i) the ability or authority of Lessee or either Guarantor to perform its obligations under any of the Operative Agreements, (ii) the occurrence of the Facility Completion Date for a Facility or the Unit Completion Date for Units of an Equipment Group on or prior to the earlier of the last date provided for in the applicable Facility Budget or Equipment Group Budget or the Outside Completion Date, for the amounts set forth in the Facility Budget or Equipment Budget, (iii) the validity or enforceability of any of the Operative Agreements or any rights or remedies under any thereof, (iv) the rights or interests of Administrative Agent, Lessor, or any Participant in any Facility or the Units of any Equipment Group or (v) the Fair Market Value, use, utility, useful life or residual value of the Assets or any Unit.
Material Impairment for purposes of Sections 3.14. and 10.1.(d) include, without limitation: (i) the collection of the Accounts during any thirty (30) day period is less than $1,000,000.00; (ii) Total Accounts are less than $3,000,000.00 at any time; (iii) Borrower’s consolidated financial statement reflects a net worth less than $17,500,000.00; (iv) Borrower uses in excess of $50,000.00 from the business for a non-business purpose.
Material Impairment means any one or more of the following has occurred or exists: (a) the dollar amount collected with respect to Accounts during any thirty (30) day period diminishes significantly, as determined in the sole and absolute judgment of Lender, in comparison to the immediately preceding thirty-day period, and Accounts Turnover increases by more than twenty (20) days within the same thirty (30) day period in comparison to the Accounts Turnover in the immediately preceding thirty-day period; (b) Borrower has a deficit net worth; (c) in Lender’s sole and absolute judgment, Borrower uses a substantial amount of its cash flow for a purpose that is not substantially related to its core business operations, including, without limitation, investment in, merger with, or acquisition of all or substantially all of the business and assets of, a third party; (d) Borrower has incurred losses, before deduction for taxes, during three consecutive months and the aggregate loss exceeds $500,000.00; (e) more than fifty percent (50%) of Borrower’s accounts payable are greater than sixty (60) days from invoice date; (f) the prospect of timely repayment of the Obligations is significantly diminished; (g) since the date of this Agreement, the value of the Collateral has diminished by more than twenty percent (20%); or (h) the priority of Lender’s security interest in the Collateral is contested by any Person. “Accounts Turnover” means the number derived by dividing the aggregate amount of all of Borrower’s Accounts outstanding at the beginning of a month by the aggregate amount of proceeds of all Accounts received during that month, and multiplying the result by the number of days in that month.
Material Impairment for purposes of this Agreement includes without limitation (i) Galaxy sustains a net operating loss for twelve consecutive months; and (ii) Galaxy uses a substantial amount of funds from the business for a non-business purpose. NOTICE OF FINAL AGREEMENT THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES, AND THE SAME MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.