Common use of No Material Advance Change Clause in Contracts

No Material Advance Change. There shall have been no Material Adverse Change in the financial condition of Borrower, Phase II Property Owner or the Phase II Property; nor any material adverse event or condition affecting Borrower, Phase II Property Owner or the Phase II Property, or the validity, enforceability or priority of the Loan and lien instruments.

No Material Advance Change. There shall have been no Material Adverse Change in the financial condition of Borrower, Preserve Property Owner, Phase II Property Owner Owner, the Preserve Property or the Phase II Property; nor any material adverse event or condition affecting Borrower, Phase II Property Owner Owner, Preserve Property Owner, the Preserve Property or the Phase II Property, or the validity, enforceability or priority of the Loan and lien instruments.