Pre and Post-Change in Control Procedures Clause Samples
The Pre and Post-Change in Control Procedures clause outlines the steps and requirements that must be followed before and after a change in control of a party to the agreement. Typically, this clause details notification obligations, consent requirements, and the process for transferring rights or obligations if ownership or control of a company changes hands. For example, it may require advance written notice to the other party or allow for termination or renegotiation of the contract upon such a change. Its core function is to protect the interests of the parties by ensuring transparency and providing mechanisms to address potential risks or uncertainties arising from changes in corporate control.
Pre and Post-Change in Control Procedures. With respect to claims made prior to the occurrence of a Change in Control, a Claimant’s compliance with the foregoing provisions of this Article 9 is a mandatory prerequisite to a Claimant’s right to commence arbitration pursuant to Section 9.4 with respect to any claim for benefits under this Agreement. With respect to claims made upon and after the occurrence of a Change in Control, the Claimant may proceed directly to arbitration in accordance with Section 9.4 and need not first satisfy the foregoing provisions of this Article 9.