Material Adverse Change. There has been no material adverse change in Borrower’s financial condition as represented to Lender in connection with Lender’s approval of the Loan, which would reasonably be expected to have a material impairment on Borrower’s ability to perform any or all of the Obligations.

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 or material adverse change: If, in Lender’s reasonable discretion, exercised in good faith, the business prospects, operations or financial condition of a person, entity or property has changed in a manner which could materially impair the value of Lender’s security for the Loan, prevent timely repayment of the Loan or otherwise prevent the applicable person or entity from timely performing any of its material obligations under the Loan Documents.