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What is the change of control clause in a vendor contract?

A change of control provision gives a party certain rights under a contract, such as the right to receive payment, require consent, or terminate the contract, in the event of a specified trigger. Triggers can relate to a change in ownership or control of a counterparty, changes in policies or key personnel, etc.

What is the change of control of the supplier?

Change of Control clauses create a right to terminate a contract - usually with a supplier - after the management and/or shareholders change, during the term of the contract. Its a type of break clause: the right to terminate the contract arises those in control of the company change.

What does change of control mean in a credit agreement?

Change of Control means any event, transaction or occurrence as a result of which (a) the equity owners of Borrower on the date hereof shall cease to own and control, directly orindirectly, at least fifty percent (50%) of the economic or voting rights of the outstanding Capital Stock of Borrower on a fully-diluted

What is the purpose of the change of control clause?

In short, the change of control clause ensures fairness by requiring the controlling entity to honour existing agreements or provide compensation where needed, protecting the interests of all parties involved.

What is an example of a change of control clause in a contract?

In the event of a Change of Control of [Party A], [Party B] shall have the right to terminate this Agreement by giving written notice within 30 days of becoming aware of the Change of Control. Such termination shall take effect 30 days from the date of notice.

What does change of control mean in an agreement?

Change of Control means the Company is a party to a transaction in which it is sold to, merged, consolidated, reorganized into or with, or its assets are transferred or sold to another entity, after which the holders of voting securities of the Company immediately prior to such transaction, including voting

What is the change of control clause in a supply agreement?

If there is a change in control in the ownership, control, and/or legal form of the Supplier, which results in more than 50% of the shares in the Supplier being controlled by another party and/or voting control of the Supplier being acquired by another party and/or control of the composition of the board of the

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Bold code in the Change in Control Agreement

Effortlessly bold code in Change in Control Agreement with DocHub.

To help you get started, here's a simple guide on how to bold code in Change in Control Agreement:

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Got questions?

What is the change of control clause in a vendor contract?

What is the change of control of the supplier?

What does change of control mean in a credit agreement?

What is the purpose of the change of control clause?

What is an example of a change of control clause in a contract?

What does change of control mean in an agreement?

What is the change of control clause in a supply agreement?

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Bold code in the Change in Control Agreement

Effortlessly bold code in Change in Control Agreement with DocHub.

To help you get started, here's a simple guide on how to bold code in Change in Control Agreement:

PDF editing simplified with DocHub

Drive efficiency with the DocHub add-on for Google Workspace

Related features

Got questions?

What is the change of control clause in a vendor contract?

What is the change of control of the supplier?

What does change of control mean in a credit agreement?

What is the purpose of the change of control clause?

What is an example of a change of control clause in a contract?

What does change of control mean in an agreement?

What is the change of control clause in a supply agreement?

See why our customers choose DocHub

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