the business, assets, properties, liabilities (actual or contingent), operations, condition (financial or otherwise) or prospects, of the Borrower, individually, or the Obligors taken as a whole;

the ability of an Obligor to perform its obligations under any Finance Document to which it is a party; or

the validity or enforceability of, or the effectiveness or ranking of any Security granted or purported to be granted under any Finance Document, or the rights and remedies of any Finance Party."

As a means of qualifying certain representations and warranties, covenants and other terms of the finance documents, so that a particular provision will only be breached if the default will have (or, sometimes, is likely to have or reasonably likely to have) a "Material Adverse Effect".

In the facility agreement as a type of "sweep-up" event of default, which allows the lender(s) to capture unforeseeable events or circumstances that perhaps do not give rise to an event of default under any of the other specific events of default. However, it is unlikely that a lender would use that event as the sole reason to trigger a drawstop and accelerate repayment of the loan.