Since December 31, 2014, there has been no development or event relating to or affecting a Combined Party which has had or would be reasonably expected to have a Material Adverse Effect.

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 the occurrence thereof, notice of any material adverse change in the business, operations, property or financial condition of the Seller, the Master Servicer, the Performance Guarantor or any Originator.

Material Adverse Change. Promptly after the occurrence thereof, notice of any material adverse change in the business, operations, property or financial or other condition of any Originator, the Master Servicer, the Performance Guarantor or the Seller.

Material Adverse Change. There has been no change in the facts or information regarding the Borrower that was represented to the Administrative Agent and the Lenders by the Borrower that could reasonably be expected to be materially adverse to the Administrative Agent and the Lenders.

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. 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.

No Material Change (a) No material adverse change shall have occurred since August 31, 2022 # in the business, assets, liabilities (actual or contingent), operations, condition (financial or otherwise) or prospects of Borrower and its Subsidiaries, taken as a whole, or # in facts and information regarding such entities as represented to the Administrative Agent or any Lender on or prior to the Closing Date; and # no change shall have occurred in the condition or operations of Borrower since August 31, 2022 which could reasonably be expected to result in a Material Adverse Effect.

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