Notification of Adverse Changes Sample Clauses
The Notification of Adverse Changes clause requires one party to promptly inform the other if significant negative developments occur that could impact the agreement or the party’s ability to fulfill its obligations. Typically, this clause applies to events such as financial difficulties, regulatory investigations, or material changes in business operations. Its core function is to ensure transparency and allow the affected party to assess risks or take appropriate action in response to new adverse circumstances.
Notification of Adverse Changes. Upon Borrower's Knowledge, Borrower shall promptly notify Lender of the occurrence of any event or condition which, if not remedied, would reasonably be expected to result in a material, adverse change to the financial condition of Borrower or would reasonably be expected to materially and adversely affect the value of the Property.
Notification of Adverse Changes. It will promptly notify the Bank of: (i) any material event or adverse change in the condition (financial or otherwise) of the Customer, (ii) any litigation or other proceedings of any nature whatsoever being threatened or initiated against the Customer before any court tribunal or administrative agency which may materially affect the operations and/or financial condition of the Customer, (iii) any dispute between the Customer and any government or statutory (body in respect of any of the Customer’s lands and other asset, and (iv) any labour controversy which might result in a strike against the Customer; all such notification to be given to the Bank not later than fourteen (14) days after the Customer has knowledge of the change or of the litigation or other proceedings or threat thereof or dispute and the amount of any contingent liability if such amount is ascertainable;
Notification of Adverse Changes. The Customer will notify the Bank immediately of the occurrence of:-
(i) any Event of Default or of any event of default in relation to any other indebtedness of the Customer or of the Security Party; or
(ii) any other changes in the condition or performance or nature of the Customer’s business or constitution (including, but not limited to, any legal proceedings threatened or commenced against the Customer or the Security Party); or
(iii) any changes in any matter affecting the Customer or the Security Party which might affect the Customer’s or any Security Party’s ability to fully comply with its obligations;
Notification of Adverse Changes. Borrower shall promptly notify Lender --------------------------------- of the occurrence of any event or condition which, if not remedied, would result in a material, adverse change to the financial condition of Borrower or would materially and adversely affect the value of the Pipeline.
Notification of Adverse Changes. Operator shall promptly notify --------------------------------- Owner of the occurrence of any event or condition which, if not remedied, would result in a material, adverse change to the financial condition of Operator or would materially and adversely affect the value of the Pipeline.
Notification of Adverse Changes. Grantor shall promptly notify Beneficiary of the occurrence of any event or condition which, if not remedied, would result in a material, adverse change to the financial condition of Grantor or would materially and adversely affect the value of the Mortgaged Property or any portion thereof.
Notification of Adverse Changes. The Maker shall promptly notify the Payee of any material and adverse: (1) court or administrative determination, or (2) business development reasonably affecting the mortgaged Premises; provided, however, that Maker shall not be obligated to provide the Payee with material nonpublic information without reasonable assurance from the Payee as to Payee's use, disclosure or disposition of that information in compliance with applicable securities laws.
Notification of Adverse Changes. Indemnitors shall promptly advise Lender in writing of:
a. All substantial actions, suits or proceedings pending or threatened in writing, at law or in equity, or before any federal, state, municipal or other court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, involving the possibility of judgments, or penalties against Indemnitors which might result in a material adverse change in the financial condition of Indemnitors; and
b. Any material adverse change in the financial condition of Indemnitors.
Notification of Adverse Changes. Guarantor shall promptly advise Lender in writing of:
(a) All substantial actions, suits or proceedings pending or to its knowledge threatened, at law or in equity, or before any federal, state municipal or other court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, involving the possibility of judgments, or penalties against Guarantor which are not covered adequately by insurance; and
(b) Any material adverse change in the business or financial condition of Guarantor.
Notification of Adverse Changes. During the period from the date of this Agreement extending until sixty (60) days after the Closing Date, Seller shall promptly notify Buyer of any matter which any executive officer of Seller acquires actual knowledge that, if known as of the execution of this Agreement, would have been required to be disclosed under this Agreement or included in the Schedules hereto.