definiens: shall mean any change, event, effect, claim, circumstance or matter ( each, an ) that ( considered together with all other Effects ) is, or would reasonably be expected to be or to become, materially adverse to thebusiness, condition ( financial or otherwise ) or results of operations of the Company, except to the extent that any such Effect results from:(i ) changes in general economic conditions ( except to the extent that such changes have a disproportionate impact on the Company ascompared to other companies similarly situated in the industry in which the Company operates ) ; ( ii ) changes affecting the industry generallyin which the Company operates ( except to the extent that such changes have a disproportionate impact on the Company as compared toother companies similarly situated in the industry in which the Company operates ) ; ( iii ) changes in Legal Requirements or Swiss GAAP(except to the extent that such changes have a disproportionate impact on the Company as compared to other companies similarly situatedin the industry in which the Company operates ) ; ( iv ) acts of war or terrorism or natural disasters ( except to the extent that such changeshave a disproportionate impact on the Company as compared to other companies similarly situated in the industry in which the Companyoperates ) ; ( v ) any failure by the Company to meet any of its financial projections, forecasts or estimates, in and of itself, or ( vi ) theannouncement or pendency of the Transactions