Common use of NOTICE AND REPORT Clause in Contracts

NOTICE AND REPORT. (1) If any change has been made to the seal, name, trade name, name of the director, address, office address, contact numbers, e.g. home and/or mobile phone numbers, or other already notified items, the lender will be informed without delay. (2) If the lender requests information on financial, business, and/or operational status, it will be immediately reported and convenience necessary for the investigation will be provided. (3) In the case any material change has occurred or is anticipated to occur to financial, business, and/or operational status, the lender will be reported immediately even without its request.