Negative Changes Sample Clauses
The Negative Changes clause defines the parties' rights and obligations in the event of adverse developments that could impact the agreement. Typically, this clause outlines what constitutes a negative change—such as a significant decline in financial condition, business operations, or market environment—and may specify the actions that can be taken if such a change occurs, like renegotiation or termination of the contract. Its core function is to protect parties from unforeseen detrimental circumstances by providing a mechanism to address material negative developments during the contract term.
Negative Changes. From the date hereof, there shall not have occurred any actual or threatened change (including any proposal by the Minister of Finance (Canada) to amend the Tax Act or any announcement, governmental or regulatory initiative, condition, event or development involving a change or a prospective change) that, in the sole judgment of ▇▇▇ ▇▇▇▇▇, acting reasonably, directly or indirectly, has or may have material adverse significance with respect to the business or operations of any of Rolling Thunder and ▇▇▇ ▇▇▇▇▇, in which either of them has a material interest or with respect to the regulatory regime applicable to their respective businesses and operations.
Negative Changes. Prior to the Closing there shall have been no occurrence of any event or series of events the cumulative negative effect of which has, or results in, material adverse effects on the financial condition and/or business of the Company.