Order of Midnight // Alter Fate

If a spell is cast as an Adventure, its controller exiles it instead of putting it into its owner's graveyard as it resolves. For as long as it remains exiled, that player may cast it as a permanent spell. If an Adventure spell leaves the stack in any way other than resolving (most likely by being countered or by failing to resolve because its targets have all become illegal), that card won't be exiled and the spell's controller won't be able to cast it as a permanent later.

If an effect copies an Adventure spell, that copy is exiled as it resolves. It ceases to exist as a state-based action; it's not possible to cast the copy as a permanent.

If an effect instructs you to choose a card name, you may choose the alternative Adventure name. Consider only the alternative characteristics to determine whether that is an appropriate name to choose.

If you cast an adventurer card as an Adventure, use only its alternative characteristics to determine whether it's legal to cast that spell. For example, if Giant Killer is exiled with the last ability of Vivien, Champion of the Wilds, you can't cast it as Chop Down.

You must still follow any timing restrictions and permissions for the permanent spell you cast from exile. Normally, you'll be able to cast it only during your main phase while the stack is empty.

Casting a card as an Adventure isn't casting it for an alternative cost. Effects that allow you to cast a spell for an alternative cost or without paying its mana cost may allow you to apply those to the Adventure.

If an object becomes a copy of an object that has an Adventure, the copy also has an Adventure. If it changes zones, it will either cease to exist (if it's a token) or cease to be a copy (if it's a nontoken permanent), and so you won't be able to cast it as an Adventure.