Common use of Material Adverse Event Clause in Contracts

Material Adverse Event. 46.1 Without prejudice to the rights of the Lender under Clause 44 (Events of Default), if a Material Adverse Event occurs then the Lender will take reasonable steps to give the Borrower a Notice that the Margin Loan Facility is subject to Gearing Adjustment. 46.2 The Margin Loan Facility becomes subject to Gearing Adjustment under this Clause 46 on and from the date and time specified in the Notice. The date and time specified in the Notice may be less than 24 hours after the time the Lender sends the Notice and will be determined by the Lender as a period that is reasonably required to protect its interests in the circumstances. 46.3 The Margin Loan Facility becomes subject to Gearing Adjustment under this Clause 46 even if the Borrower does not actually receive, read or listen to the Notice. The Lender is under no obligation to notify any Security Owner or Guarantor. 46.4 Clause 43 (Gearing Adjustment) applies while the Margin Loan Facility is subject to a Gearing Adjustment.