Classical system and Material adverse effect: Difference between pages

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''Tax.'' 
(MAE).  


A system of taxing companies and their shareholders as entirely separate entities, leading to double taxation of the profits earned by the company and distributed to the shareholders.
A clause in a loan agreement. 
 
It is intended as a 'catch-all' clause and states that if there is a change in the circumstances of the borrower that materially and adversely affects the borrower's ability to repay, then this will constitute an event of default.




== See also ==
== See also ==
* [[Imputation system]]
* [[Event of default]]
* [[Loan agreement]]
* [[Material adverse change]]
* [[Adverse event]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Bank_Lending]]
[[Category:Debt_Capital_Markets]]
[[Category:Legal_Documentation]]

Revision as of 07:35, 5 July 2014

(MAE).

A clause in a loan agreement.

It is intended as a 'catch-all' clause and states that if there is a change in the circumstances of the borrower that materially and adversely affects the borrower's ability to repay, then this will constitute an event of default.


See also