Common use of Notification of Events Clause in Contracts

Notification of Events. (a) Each Obligor shall promptly inform the Warrantholder if an Event has occurred or is likely to occur (having regard to the relevant facts or circumstances at the time) by serving an Event Notification on the Warrantholder. (b) If the Warrantholder has reasonable cause to believe that an Event is about to occur, the Warrantholder may request the Obligors to consult with it. Such consultation shall take place within 10 days from the date of the Warrantholder’s request. After the earlier of: (i) the lapse of 10 days from the date of such Warrantholder’s request (if the Company has confirmed during such consultation that the anticipated Event or Event Date will occur); or (ii) at any time thereafter, upon the occurrence of the anticipated Event, the Obligors will be deemed to have served an Event Notification.