This document is a standstill agreement for a firm that considering merger with another firm. It assures that the status quo remains while the partners pursue various alternatives.
This document is a standstill agreement for a firm that considering merger with another firm. It assures that the status quo remains while the partners pursue various alternatives.
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A standstill agreement prevents a party from issuing proceedings during the currency of that agreement. As such a standstill agreement is a voluntary contractual arrangement between the parties to pause limitation for an agreed length of time (typically 3-6 months).
A standstill agreement prevents a party from issuing proceedings during the currency of that agreement. As such a standstill agreement is a voluntary contractual arrangement between the parties to pause limitation for an agreed length of time (typically 3-6 months).
Published by a LexisNexis Restructuring & Insolvency expert A standstill agreement is an agreement between the company and its creditors restraining creditor enforcement action (see Precedent: Standstill agreement).
A standstill agreement, for use in the context of a restructuring, whereby secured creditors agree not to enforce their security or demand payment of their debts for a period of time with the aim of enabling a consensual restructuring to be negotiated.
Example: if a party, in a trade agreement, commits to allowing 30% foreign ownership in domestic companies and later on decides unilaterally to allow 40%, the party can re-introduce the original level of 30% whenever it wishes (but it cannot restrict further below 30%).
A standstill agreement can effectively stall or stop the process of a hostile takeover if the parties cannot negotiate a friendly deal. A company that comes under pressure from an aggressive bidder or activist investor finds a standstill agreement helpful in blunting the unsolicited approach.
An agreement in which a hostile bidder agrees to limit its holdings in a target company. A standstill agreement stops the takeover bid from progressing for a period of time.