Common use of Responsibility for Violations Clause in Contracts

Responsibility for Violations. 30.1. Each event described below shall be an Event of Default under the Credit Card Contract: (a) Failure by arises that, in Shinhan's opinion, may have a material adverse e ect on the Cardholder's assets or nancial condition, or the Cardholder's ability to perform its obligations under the Credit Card Contract; or