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Let’s TalkChange of Control Provision
A provision in an agreement that prevents the agreement from being transferred if there is a change of control.
See Also
Assignment, stock sale.
Tips
This is a critical component of acquisitions, as many contracts must be transferred for an acquisition to be successful. However, many contracts require consent if there is a change of control, as defined in the agreement. The definition of a change of control varies from agreement to agreement. Many parties attempt to bypass this provision by structuring the sale as a stock sale, though some agreements contain language that constitutes a stock sale as a change of control.
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