Common use of Negative Events Clause in Contracts

Negative Events. Sublicensee acknowledges that Sublicensor has an overriding interest in protecting the market and quality of the Products. Accordingly, if Sublicensee, at any time, has a reasonable basis to believe that any act or occurrence related to the Products presents or has presented any threat to public health or safety or otherwise are likely to draw negative attention from any governmental agency, consumer or environmental group, media or other organization or any individual (any of such occurrences being a “Negative Event”), Sublicensee will promptly notify Sublicensor of the facts giving rise to such belief or suspicion. In all such cases, (and subject to obligations of either party under applicable law, including, without limitation, its disclosure obligations under the Securities Exchange Act of 1934, as amended) Sublicensee will closely coordinate with Sublicensor with respect to any actions Sublicensee might take or permit and in respect to all public statements Sublicensee might make regarding the particular Negative Event, and shall, after consultation with Sublicensor, follow all reasonable advice and instructions of Sublicensor with respect thereto.