Report Basic Changes Clause Samples
The "Report Basic Changes" clause requires a party to promptly notify the other party of any fundamental changes that may affect the agreement or its performance. In practice, this could include changes such as a company’s legal name, address, ownership structure, or key personnel involved in the contract. By mandating timely disclosure of such changes, the clause ensures transparency and allows both parties to address potential impacts, thereby reducing the risk of misunderstandings or disruptions in the contractual relationship.
Report Basic Changes. The PFI must notify the Bank promptly in writing of any material changes that occur in its principal purpose, activities, financial condition, staffing, facilities, fidelity bond or errors and omissions insurance.
Report Basic Changes. The Lender must notify us promptly in writing of any changes that occur in its principal purpose, activities, staffing or facilities.
Report Basic Changes. The PFI must notify FHLB promptly in writing of any changes that occur in its principal purpose, activities, staffing or facilities that could adversely affect its ability to perform its obligations hereunder.
Report Basic Changes. The Seller must notify FHLBI promptly in writing of any changes that occur in its principal purpose, activities, staffing, or facilities that could adversely affect its ability to perform its obligations hereunder.
Report Basic Changes. The Lender must notify us promptly in writing of any changes that occur in its principal purpose, activities, staffing or facilities. ----------------- Page 2 of 22 ----------------- 08/86 ----------------- 9 --------------------- SALE OF MORTGAGES AND FANNIEMAE PARTICIPATION INTERESTS ---------------------- CONTRACT