Does anyone have experience with material adverse conditions in an LOI?

A counter to our LOI came with a MAC (material adverse conditions) clause which would require us to pay $50k if we backed out of the deal once the LOI is signed unless a material adverse condition was found that could not be remedied within a specific time period.. I understand the intent of the clause but I assume this is much more common in larger deals. Does anyone else have experience with these types of clauses in LOIs?