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When a change in control occurs, this is generally deemed an assignment of the lease. Due to the change in control of the tenant entity, the entity has changed, triggering an assignment of lease. Most leases will require a tenant to seek the landlord's consent before an assignment of lease occurs.
An executive employment agreement is a legal contract between an employer and an executive that outlines the terms of their working relationship.
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.
It is common for creditor agreements to include a change of control clause to protect the lender in case the company comes under new ownership. Such clauses may stipulate that the lender can demand to be repaid in full upon triggering of the clause by a change in company ownership.
In employment contracts, a change of control clause entitles the employee to a specified payment or enhanced notice period if their employer is taken over and the takeover results in dismissal by their employer or a material reduction in the employee's responsibilities leading to constructive dismissal within a ...
A change in control can also occur if the disappearing entity held controlling interests in another entity that owned California real property. California Corporations Code section 1107 specifies that the separate existence of the disappearing corporation ceases and the surviving corporation succeeds, without other ...
Sections Execute an Employment Agreement for Every Executive. Specify Compensation Terms and Conditions Clearly. State Termination and Severance Conditions. Protect Your Intellectual Property. Focus on Writing With Clarity and Simplicity.