| This would be trivially true if, as some maintain, the nonoccurrence of something intrinsically either good or bad entails the occurrence of something intrinsically neutral. |
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| It excludes nonfinancial variables that are specific to a party to the contract, such as the occurrence or nonoccurrence of a fire that damages or destroys an asset of that party. |
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| Notice must be specific, and may be given conditionally upon the occurrence or nonoccurrence of an event. |
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