Material Adverse Developments. Each Debtor agrees that immediately upon becoming aware of any development or other information which would reasonably be expected to materially and adversely affect its business, financial condition or property, or its ability to perform under this Security Agreement, it shall give to the Secured Parties telephonic or facsimile notice specifying the nature of such development or information and such anticipated effect.
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Samples: Security Agreement (Phototron Holdings, Inc.), Security Agreement (Phototron Holdings, Inc.)
Material Adverse Developments. Each Debtor agrees that immediately upon becoming aware of any development or other information which would reasonably be expected to materially and adversely affect its business, financial condition or property, or its ability to perform under this Security Agreement, it shall give to the Secured Parties Party telephonic or facsimile notice specifying the nature of such development or information and such anticipated effect.
Appears in 2 contracts
Samples: Security Agreement (Phototron Holdings, Inc.), Security Agreement (Phototron Holdings, Inc.)
Material Adverse Developments. Each Debtor agrees that immediately upon becoming aware of any development or other information which would reasonably be expected to materially and adversely affect its business, financial condition or property, or its ability to perform under this Security Agreement, it shall give to the Secured Parties telephonic or facsimile notice specifying the nature of such development or information and such anticipated effect.
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