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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.
In finance, a Change of Control occurs when there is a material change in the ownership of a company. The exact criteria that determine such a change can vary and are defined by law and through contractual agreements.
Change in control agreements are contracts that outline pay and benefits an executive will receive in the event of a change in company ownership. They are also sometimes known as ?golden parachutes,? as they provide protection for executives if they are forced out after a company takeover.
?Change in control? means: any sale, assignment, transfer, contribution or other disposition of all or substantially all of the assets used in a health care entity's operations; or any sale, assignment, transfer, contribution or other disposition of a controlling interest in the health care entity, including by ...
In commercial contracts a change of control clause will often give the party who is not subject to a change in ownership the right to terminate the agreement in the event of a change of control of the other party.
A change of control is a change in a company's ownership or management that results in the decision-making capacity of that entity being exercised by a different group of shareholders and/or directors.
Change of control refers to a scenario when the company's majority ownership and business decision-making powers move from one person or entity to another. It is quite common in corporarte sector where the rights are sold to potential buyers at a reasonable price.