Change clause in a license - Online Editor

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What is the purpose of the change of control clause?

Parties normally seek to include provisions in an agreement that allow for either termination or an adjustment of their rights, such as payment, upon a change of structure or ownership of the other party. This is known as a change of control clause.

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

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. Real-World Litigation Impacts of Contract Clauses in Energy Contracts morganlewis.com powerandpipes 2023/03 morganlewis.com powerandpipes 2023/03

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 docHub change clause?

Cardinal Changes (docHub Changes) clauses are the source of a docHub number of disputes arising from government contracts. The clause, which has appeared in nearly every U.S. government contract for over 100 years, gives the government the power unilaterally to order contractual modifications. Changes clause - Wikipedia wikipedia.org wiki Changesclause wikipedia.org wiki Changesclause

What is the difference between novation and change of control?

novation deals with transferring a burden (and often everything else in the contract) to another party; and. change of control deals with who the counterparty is and whether you feel comfortable continuing your commercial relationship with them, even if their ownership or leadership changes.

What is a licensing clause?

A license grant clause is a contractual provision that establishes one partys (a licensor) agreement to allow another party (a licensee) to use its intellectual property (IP) subject to certain conditions. Generally speaking, a licensors IP is protected by law against unauthorized use by a third party. What is a license grant clause? - Zuva zuva.ai contract-central licence-grant zuva.ai contract-central licence-grant

What is an example of a change of control clause?

Change of Control Clause: Example The Customer shall have the right, without prejudice to its other rights or remedies, to terminate this Agreement by 3 months written notice to the Supplier, if there is a Change of Control of the Supplier. change of control clauses and termination - Hall Ellis Solicitors hallellis.co.uk change-of-control-clauses hallellis.co.uk change-of-control-clauses

What is the SEC rule for change in control?

(c) Change of Control means: (i) a sale of all or substantially all of the assets of the Company; (ii) the acquisition of more than 50% of the voting power of the outstanding securities of the Company by another entity by means of any transaction or series of related transactions (including, without limitation,

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Change clause in the license