Material Adverse Change. A material adverse change occurs in the financial condition of Borrower or Guarantor, including, but not limited to, cash flow, liquidity and net worth, loan to value limitations as set forth herein; or

Material Adverse Change. Promptly after the occurrence thereof, notice of any Material Adverse Effect.

Material Adverse Change. Promptly after the occurrence thereof, notice of any Material Adverse Effect.

Material Adverse Change. No Material Adverse Change shall have occurred with respect to the Credit Parties.

Material Adverse Change. At any time an event or circumstance occurs that, in the opinion of the Lender, is or will be a Material Adverse Change.

Material Adverse Change. There shall have been no material adverse change (or changes which in the aggregate are materially adverse) since the date hereof in the leases or property taken as a whole, whether by reason of change in government regulation or action or otherwise.

Material Adverse Change. Promptly after any officer of any Loan Party has learned of any matter, including without limitation, the commencement of any litigation, any judgment or any governmental investigation, that would reasonably be expected to result in a Material Adverse Change, written notice thereof accompanied by a statement of an Authorized Officer of the Borrower or the applicable Loan Party setting forth details of the occurrence referred to therein and stating what action the Borrower or the applicable Loan Party has taken and proposes to take with respect thereto.

Material Adverse Change. A Material Adverse Change occurs;

Material Adverse Change. There will have been # no material adverse change individually or in the aggregate, # in the business, the industry in which the Parent or any Originator operates, the financial or other condition of the Parent, the Servicer, or any Originator, or # in the Transferred Receivables or Related Property, taken as a whole, # no litigation commenced which is reasonably likely to be adversely determined, and if so determined, would have a Material Adverse Effect on the Parent, the Borrower, the Servicer, the Originators, their business, or which would challenge the transactions contemplated under this Agreement, the Sale Agreement and the other Related Documents, and # since the Parent’s last audited financial statements and except as otherwise disclosed in the financial projections provided to the Administrative Agent on or prior to the Effective Date, no material increase in the liabilities, liquidated or contingent, of the Parent, the Servicer or the Originators, or material decrease in the assets of the Parent, the Servicer or the Originators.

Material Adverse Change. Any change in the operations or the financial position of any Security Party or any other circumstance, event or condition which, in the reasonable opinion of the Majority Lenders, shall have a Material Adverse Effect; or