Reporting of Reportable Events Sample Clauses

The "Reporting of Reportable Events" clause requires parties to promptly notify each other when certain significant or predefined incidents occur during the course of their agreement. Typically, this clause outlines what constitutes a reportable event—such as regulatory violations, data breaches, or safety incidents—and sets forth the procedures and timelines for making such reports. Its core function is to ensure transparency and timely communication, enabling both parties to respond appropriately to critical developments and manage associated risks effectively.