Material Threat Sample Clauses
The Material Threat clause defines circumstances under which a significant risk or danger to the agreement or its objectives is recognized. In practice, this clause typically outlines what constitutes a 'material threat,' such as substantial financial loss, reputational harm, or regulatory action, and may specify the process for identifying and responding to such threats. Its core function is to ensure that both parties are prepared to address serious risks promptly, thereby protecting the interests of all involved and maintaining the integrity of the agreement.
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Material Threat. Within fifteen (15) days after the Company or any of its Subsidiaries obtains knowledge of the commencement or written threat of commencement of any material litigation or proceeding against the Company or any of its Subsidiaries or their respective assets, written notice by the Company of the nature and extent of such litigation or proceeding.
Material Threat. As soon as possible, but in any case within fifteen (15) Business Days after Z-Tel learns in writing of the commencement of any suit or administrative, arbitration or other proceeding against Z-Tel, any of its Affiliates or their respective businesses, assets or properties, and in each case only to the extent an adverse judgment in the suit or proceeding would materially impact Z-Tel's ability to fulfill its obligations under this Agreement, Z-Tel will provide to Sprint a reasonably detailed description of the threat summarizing its potential impacts both operationally and financially.
Material Threat. Sprint will provide notice to Z-Tel as soon as possible, but in any case within fifteen (15) Business Days after Sprint learns in writing of the commencement of any suit or administrative, arbitration or other proceeding against Sprint, any of its Owned Affiliates or their respective businesses, assets or properties, in each case only to the extent an adverse judgment in the suit or proceeding would materially impact Sprint's ability to fulfill its obligations under this Agreement. Sprint will provide a reasonably detailed description of the threat summarizing its potential impacts both operationally and financially.