Define: Material Adverse Change
What does "Material Adverse Change" mean? The meaning differs based on the contract. We found 2 definitions across 2 companies in SEC filings.
Definition 1 (EXELON CORP, seen in 1 filing)
Material Adverse Change means any event, development or circumstance that has had or could reasonably be expected to have a material adverse effect on (a) the business, assets, operations, prospects or condition, financial or otherwise, of the Borrower and its Subsidiaries taken as a whole, (b) the ability of the Borrower to perform its obligations under this Agreement or (c) the rights and remedies of the Lenders under this Agreement.
Source: EXELON CORP 10-K
Definition 2 (Bloom Energy Corp, seen in 1 filing)
Material Adverse Change means a fact, event or circumstance that, alone or when taken with other events or conditions occurring or existing concurrently with such event or condition, (a) has or is reasonably expected to have a material adverse effect on the business, operations, condition (financial or otherwise), assets, liabilities, prospects, or properties of a Person; (b) has or is reasonably expected to have any material adverse effect on the validity or enforceability of this Agreement; (c) materially impairs or is reasonably expected to materially impair the ability of a Person to meet or perform its obligations under this Agreement; or (d) has or is reasonably expected to have any material adverse effect on a Person s rights under this Agreement.
Source: Bloom Energy Corp S-1
Data extracted from 2 SEC EDGAR filings across 2 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.