Material Adverse. CHANGE At any time there shall occur a change in the business or operations of a Security Party or a change in the financial condition of any Security Party which, in the reasonable opinion of the Majority Lenders, materially impairs such Security Party's ability to discharge its obligations under the Security Documents in the manner provided therein and such change, if capable of remedy, is not so remedied within 15 days of the delivery of a notice confirming such change by the Agent to the relevant Security Party; or
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement (Teekay Offshore Partners L.P.)