Material adverse change: Difference between revisions
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(MAC). A clause in a loan agreement. Normally it is intended as a 'catch-all' clause and states that if there is a change in the circumstances of the lender that is both material and adverse, then this will constitute an event of default. | (MAC). | ||
A clause in a loan agreement. | |||
Normally it is intended as a 'catch-all' clause and states that if there is a change in the circumstances of the lender that is both material and adverse, then this will constitute an event of default. | |||
Not surprisingly this is a contentious clause, depending on who defines 'material'. | Not surprisingly this is a contentious clause, depending on who defines 'material'. | ||
== See also == | == See also == | ||
* [[Event of default]] | * [[Event of default]] | ||
* [[Loan agreement]] | * [[Loan agreement]] | ||
Revision as of 09:24, 22 August 2013
(MAC).
A clause in a loan agreement.
Normally it is intended as a 'catch-all' clause and states that if there is a change in the circumstances of the lender that is both material and adverse, then this will constitute an event of default.
Not surprisingly this is a contentious clause, depending on who defines 'material'.
