Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
material adverse change or effect — Many mergers and acquisitions contracts include a material adverse change clause that allows a company to renegotiate or walk away from a deal if the other company or its subsidiaries ( subsidiary) announces a significant event that may… … Financial and business terms
Material adverse change — A material adverse change (also called a MAC) also formulated as a Material adverse event or Material adverse effect (either, a MAE) contingency is a legal provision often found in mergers and acquisitions contracts and venture financing… … Wikipedia
material adverse change — A clause in a loan agreement or bank facility stating that the loan will become repayable if there should a material change in the borrower s credit standing. The clause can be contentious because it is not always clear what constitutes a… … Accounting dictionary
material adverse change — A clause in a loan agreement or bank facility stating that the loan will become repayable if there should a material change in the borrower s credit standing. The clause can be contentious because it is not always clear what constitutes a… … Big dictionary of business and management
MAC clause — (material adverse change clause) A clause which aims to give the buyer the right to walk away from the acquisition, before closing, if events occur that are detrimental to the target company. MAC clauses are a common feature of public and private … Law dictionary
company MAC — USA In the case of an acquisition financing, a material adverse change condition precedent to lending that is virtually identical to the material adverse change clause in the acquisition agreement. It will only pertain to the target company (not… … Law dictionary
business MAC — USA A material adverse change clause that refers to a material adverse change in the business of the borrower. Business MAC clauses are typically conditions precedent to lending contained in commitment letters for bank loan financings. A business … Law dictionary
event of default — A critical clause in a loan agreement, the breaching of which will make the loan repayable immediately. The breaching of any covenant clause will be an event of default. Events of default also include failure to pay, failure to perform other… … Accounting dictionary
Bilanzrelationsklauseln — Covenants (deutsch: Kreditklauseln oder auch (Neben ) Abreden) sind vertragliche bindende Zusicherungen des Kreditnehmers während der Laufzeit eines Kreditvertrages. Sie entstammen der anglo amerikanischen Kreditvertragspraxis (siehe Syndizierung … Deutsch Wikipedia
Covenants — Beim englischen Begriff Covenants handelt es sich im deutschen Sprachgebrauch um Klauseln oder auch (Neben ) Abreden in Kreditverträgen. Es sind vertraglich bindende Zusicherungen des Kreditnehmers während der Laufzeit eines Kredites. Das in dem… … Deutsch Wikipedia
