Common use of Financial Statements and Potentially Adverse Events Clause in Contracts

Financial Statements and Potentially Adverse Events. The Global Agent will notify Freddie Mac, in accordance with Section 10(d) below, within ten (10) Business Days (or, if notice within 10 Business Days is not legally permitted, then at the earliest legally permissible time) of any of the following: (A) an event or series of events occurs that has or is reasonably likely to have a material adverse impact on the Global Agent’s ability to perform its obligations under this Agreement; (B) the Global Agent undergoes a material change in its ownership structure or organization, including a merger, consolidation or change of control, whether by operation of law or otherwise; (C) the Global Agent makes an assignment for the benefit of its creditors or becomes subject to appointment of a trustee, conservator or receiver for it or its property; (D) the Global Agent authorizes the filing of a bankruptcy petition or its equivalent or an involuntary petition of bankruptcy or its equivalent is filed against the Global Agent; or (F) the Global Agent becomes insolvent.

Financial Statements and Potentially Adverse Events. The Global Agent will notify Freddie Xxxxxxx Mac, in accordance with Section 10(d) below, within ten (10) Business Days (or, if notice within 10 Business Days is not legally permitted, then at the earliest legally permissible time) of any of the following: (A) an event or series of events occurs that has or is reasonably likely to have a material adverse impact on the Global Agent’s ability to perform its obligations under this Agreement; (B) the Global Agent undergoes a material change in its ownership structure or organization, including a merger, consolidation or change of control, whether by operation of law or otherwise; (C) the Global Agent makes an assignment for the benefit of its creditors or becomes subject to appointment of a trustee, conservator or receiver for it or its property; (D) the Global Agent authorizes the filing of a bankruptcy petition or its equivalent or an involuntary petition of bankruptcy or its equivalent is filed against the Global Agent; or (F) the Global Agent becomes insolvent.