Common use of Material Changes and Litigation Clause in Contracts

Material Changes and Litigation. The Corporation shall promptly (and, in any event, not later than the date of release of such information to the public generally) notify the Investors or its transferees of any material adverse change in the business, properties, assets, or condition (financial or otherwise) of the Corporation and of any litigation or governmental proceeding or investigation pending (or, to the best knowledge of the Corporation, threatened) against the Corporation or against any officer, director, key employee, or principal shareholder of the Corporation, that materially adversely affects (or if adversely determined, could materially adversely affect) its present or proposed business, properties, assets, or condition (financial or otherwise) taken as a whole.

Material Changes and Litigation. The Corporation shall Company promptly (and, in any event, not later than the date of release of such information to the public generally) shall notify the Investors Preferred Stockholders or its their transferees of any material adverse change in the business, properties, assets, or condition (financial or otherwise) of the Corporation Company and of any litigation or governmental proceeding or investigation pending (or, to the best knowledge of the CorporationCompany, threatened) against the Corporation Company or against any officer, director, key employee, or principal shareholder of the CorporationCompany, that materially adversely affects (or if adversely determined, could materially adversely affect) its present or proposed business, properties, assets, or condition (financial or otherwise) taken as a whole.