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.
North Dakota Standstill Agreements
Category:
State:
Multi-State
Control #:
US-L0804
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Word;
PDF;
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FAQ
Standstill agreements to extend or suspend a limitation period have become a regular feature of civil litigation. They enable the parties to focus on the pre-action protocol requirements without worrying about limitation. They can also save the cost of the court issue fee if the dispute settles pre-action.
A standstill agreement is a contract that limits or suspends the activities of one or more parties in a business agreement for a predetermined period of time. By entering into a standstill arrangement, the parties can suspend or extend the statute of limitations, which can be a useful tool in civil litigation.
: an agreement under which litigation is forestalled between two parties. : an agreement under which a party agrees to refrain from taking further steps to acquire control of a corporation (as by additional purchases of stock)
An investor makes a purchase of shares in a company which brings their holdings to 45%. Concerned about the potential for a controlling share takeover by the investor, the company enters negotiations over a standstill, which prevents further purchasing beyond this point.
In a ?standstill clause? the parties to a trade agreement commit to keeping the market at least as open in the future as it was as at the time of conclusion of the agreement.
Careful consideration must be made to ensure that the parties expressly agree the intended effect of the standstill and that the wording of the standstill agreement clearly and consistently reflects that intention.
It has advantages and can ease the pressure associated with limitation deadlines. It allows parties time to consider the merits of the claim and/or the defence; and gives some breathing space to explore a resolution without needing to spend otherwise unnecessary time and costs heading down the route of litigation.