Common use of Material Alteration Clause in Contracts

Material Alteration. The insured will give to the insurer written notice as soon as practicable of any material alteration to the risk during the period of insurance including but not limited to: 4.11.1 the insured going into voluntary bankruptcy, receivership or liquidation or the insured failing to pay debts or breaching any other obligation giving rise to the appointment of a receiver or bankruptcy or winding-up proceedings; 4.11.2 any material change in the nature of the professional business conducted by the insured.

Material Alteration. The insured will give to the insurer written notice as soon as practicable of any material alteration to the risk during the period of insurance including but not limited to: 4.11.1 4.10.1 the insured going into voluntary bankruptcy, receivership or liquidation or the insured failing to pay debts or breaching any other obligation giving rise to the appointment of a receiver or bankruptcy or winding-up proceedings; 4.11.2 4.10.2 any material change in the nature of the professional business conducted by the insured.