Notice of Cancellation or Material Adverse Change Sample Clauses

The notice-of-cancellation-or-material-adverse-change clause requires one party to inform the other if they intend to cancel the agreement or if a significant negative event occurs that could affect the contract. Typically, this clause outlines the method and timeframe for providing such notice, such as requiring written communication within a specified number of days. Its core function is to ensure transparency and allow both parties to respond appropriately to major changes or termination, thereby reducing uncertainty and potential disputes.
POPULAR SAMPLE Copied 1 times
Notice of Cancellation or Material Adverse Change. At least 30 days (seven days (or such other period as shall be available) in the case of War Risk Insurance) prior to the cancellation (but not scheduled expiration) or material adverse change of any insurance maintained pursuant to this Section 10, provided that, in respect of the War Risk Insurance, if the notice period specified above is not obtainable, the Insurance Brokers shall provide for as long a period of prior notice as shall then be obtainable.
View SourceView Similar (3)

Related to Notice of Cancellation or Material Adverse Change

  • Notice of Material Adverse Change Firm agrees to notify Citizens in writing of any “Material Adverse Change” to Firm within ten (10) days of said change. A “Material Adverse Change” means: (i) a change in the business operations or financial condition of Firm which negatively impacts its capacity to meet its professional or financial obligations;

  • Absence of Material Adverse Change On the Closing Date, no circumstance shall exist that constitutes a REIT II Material Adverse Effect.

  • Notice of Material Adverse Effect The Company shall notify the Buyer (and any subsequent holder of the Debentures), as soon as practicable and in no event later than three (3) business days of the Company’s knowledge of any Material Adverse Effect on the Company. For purposes of the foregoing, “knowledge” means the earlier of the Company’s actual knowledge or the Company’s constructive knowledge upon due inquiry.

  • Notice of Adverse Change Recipient shall promptly notify OBDD of any adverse change in the activities, prospects or condition (financial or otherwise) of Recipient or the Project related to the ability of Recipient to perform all obligations required by this Contract.

  • Absence of Material Adverse Changes No material adverse change in the business, assets, financial condition, or prospects of the Company shall have occurred, no substantial part of the assets of the Company not substantially covered by insurance shall have been destroyed due to fire or other casualty, and no event shall have occurred which has had or will have a material adverse effect on the business, assets, financial condition or prospects of the Company.