Common use of Notice of Problems Clause in Contracts

Notice of Problems. Each Party will promptly give written notice to the other Parties when it becomes aware of the occurrence or failure to occur, or the impending or threatened occurrence or failure to occur, of any fact or event that would cause or constitute, or would be likely to cause or constitute (i) any of its representations or warranties contained herein being or becoming untrue or incorrect, (ii) its failure to perform any of its covenants or agreements contained herein, or (iii) any Mandatory Consent to be obtained by such Party being unlikely to be obtained, or (iv) any of the conditions delegated to it, or any condition to the obligation of the Parties contained in Section 3.1 (JOINT CONDITIONS), being or becoming impossible to satisfy. No such notice shall affect the representations, warranties, covenants, agreements or conditions of the Parties hereunder, or prevent any Party from relying on the representations and warranties contained herein.