SPV Material Adverse Effect Clause Samples
The SPV Material Adverse Effect clause defines circumstances under which a significant negative change affecting a Special Purpose Vehicle (SPV) is recognized as materially adverse. This clause typically outlines specific events or conditions—such as substantial financial losses, regulatory actions, or breaches of key agreements—that would trigger its application. By clearly identifying what constitutes a material adverse effect for the SPV, the clause helps parties allocate risk and provides a basis for actions like contract termination or renegotiation if such events occur.
SPV Material Adverse Effect. Promptly after the occurrence thereof, notice of an SPV Material Adverse Effect.
SPV Material Adverse Effect. Of the occurrence of an SPV Material Adverse Effect. Each notice pursuant to this Section 2(c) of Exhibit IV shall be accompanied by a statement of a Responsible Officer of the General Partner setting forth details of the occurrence referred to therein and stating what action Targa has taken and proposes to take with respect thereto. Each notice pursuant to Section 2(c)(i) of Exhibit IV shall describe with particularity any and all provisions of this Agreement and any other Transaction Document that have been breached, if any.