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This excerpt taken from the SLH 10-Q filed Jun 25, 2007. “Material
Adverse Effect” means a material adverse effect on and/or
material adverse developments with respect to (i) the business, operations,
properties, assets or financial condition of Holdings and its Subsidiaries
taken as a whole (after taking into
account any applicable insurance and any applicable indemnification, to the
extent the relevant indemnitors and insurers have acknowledged coverage);
(ii) the ability of the Credit Parties, taken as a whole, to fully and timely
perform their Obligations; (iii) the legality, validity, binding effect or
enforceability against a Credit Party of a material Credit Document to which it
is a party; or (iv) the rights, remedies and benefits available to, or
conferred upon, any Agent and any Lender or any Secured Party under any
material Credit Document.
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