| Notice must be specific, and may be given conditionally upon the occurrence or nonoccurrence of an event. |
| 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. |
| 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. |
