about MAC
the following Changes will not be taken into
account:
a) any changes in economies in general, or in
parts of economies, such as the financial or
securities markets, which, directly or
indirectly, affect the business of the Group;
b) any changes in the banking sector which,
directly or indirectly, affect the business of
the Group;
c) any natural disaster, pandemic, the outbreak
or escalation of war, sabotage, military
action, act of god, armed hostilities, or acts of
terrorism, or any escalation or worsening
thereof;