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

Financial Statements and Potentially Adverse Events. The Exchange Administrator will notify Freddie Mac, in accordance with Section 8(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 Exchange Administrator’s ability to perform its obligations under this Agreement; (B) the Exchange Administrator 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 Exchange Administrator 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 Exchange Administrator authorizes the filing of a bankruptcy petition or its equivalent or an involuntary petition of bankruptcy or its equivalent is filed against the Exchange Administrator; or (E) the Exchange Administrator becomes insolvent.

Financial Statements and Potentially Adverse Events. The Exchange Administrator will notify Freddie Xxxxxxx Mac, in accordance with Section 8(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 Exchange Administrator’s ability to perform its obligations under this Agreement; (B) the Exchange Administrator 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 Exchange Administrator 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 Exchange Administrator authorizes the filing of a bankruptcy petition or its equivalent or an involuntary petition of bankruptcy or its equivalent is filed against the Exchange Administrator; or (E) the Exchange Administrator becomes insolvent.