MCI Sample Clauses
The MCI (Material Change in Information) clause defines the parties' obligations and rights in the event of significant changes to key information relevant to the agreement. Typically, this clause requires one party to notify the other if there is a substantial alteration in facts, financial status, or other critical disclosures that could affect the contract's performance or risk profile. For example, if a company's financial condition deteriorates materially after signing but before closing, the MCI clause may allow the other party to reconsider or renegotiate terms. Its core function is to protect parties from unforeseen changes that could undermine the basis of the agreement, ensuring transparency and allowing for appropriate responses to new developments.
MCI. Immediately prior to the Closing, the authorized capitalization of the MCI shall consist of:
(i) Preferred Stock. A total of 100,000 shares of preferred stock, $0.50 par value per share ("MCI Preferred Stock"), none of which shall be designated or issued and outstanding.
(ii) Common Stock. A total of 10,000,000 shares of common stock, $0.01 par value per share ("MCI Common Stock"), of which 3,487,875 shares shall be issued and outstanding, and 100,000 issued and held in treasury.
MCI. Following receipt by Seller of the Consent of MCI Telecommunications Corporation ("MCI") to the transfer and assignment of the MCI Contract, Buyer and Seller agree to cooperate with each other in order to permit Buyer to seek to renegotiate the terms of the MCI Contract, effective following the Closing Date. The renegotiation of the MCI Contract shall not be a condition to Buyer's obligations hereunder. Seller will, upon Buyer's request, arrange for meetings between representatives of the Parties and the appropriate representatives of MCI at times to be reasonably agreed upon by the Parties (subject to the availability of MCI's representatives). Seller agrees to commence its efforts to obtain MCI's Consent promptly following the execution of this Agreement.
MCI. RMH agrees to make MCI whole for loss or damage to MCI Equipment, MCI Software or MCI Proprietary Software provided by MCI for use in the RMH Centers, to the extent such loss or damage results from negligence or willful misconduct of an RMH employee.
MCI. A. Promissory Note, dated July 1, 1994, between ITC and MCI Telecommunications Corporation, for $967,023.67 principal
B. Security and Financing Agreement, dated July 1, 1994 between ITC and MCI Telecommunications Corporation -- Not signed by MCI
C. True-Up and Confidentiality Agreement, dated June 28, 1994, between ITC and MCI Telecommunications Corporation -- Not signed by MCI
D. Promissory Note, dated June 29, 1993, for payment of $622,552,0O plus interest by August 15, 1994
E. Payment Agreement, dated June 29, 1993 between ITC and MCI