Common use of Material Adverse Change or Material Adverse Effect Clause in Contracts

Material Adverse Change or Material Adverse Effect. when used with respect to any Person, any change or effect that is or is reasonably likely (as far as can be foreseen at the time) to be materially adverse to the business, operations, properties, assets, liabilities, employee relationships, customer or supplier relationships, earnings or results of operations, or the business prospects and condition (financial or otherwise) of such Person and its subsidiaries, if any, taken as a whole other than (i) changes or effects which are or result from occurrences relating to the economy in general or such Person's industry in general and not specifically relating to such Person or (ii) adverse changes, events or effects set forth or described in the Parent's annual report on Form 10-KSB for the period ending, December 31, 2004 or subsequently filed SEC Documents.

Material Adverse Change or Material Adverse Effect. when used with respect to any Person, any change or effect that is or is reasonably likely (as far as can be foreseen at the time) to be materially adverse to the business, operations, properties, assets, liabilities, employee relationships, customer or supplier relationships, earnings or results of operations, or the business prospects and condition (financial or otherwise) of such Person and its subsidiaries, if any, taken as a whole other than (i) changes or effects which are or result from occurrences relating to the economy in general or such Person's industry in general and not specifically relating to such Person or (ii) adverse changes, events or effects set forth or described in the Parent's annual report on Form 10-KSB for the period ending, December 31, 2004 2005 or subsequently filed SEC Documents.