company MAC
USA
In the case of an acquisition financing, a material adverse change condition precedent to lending that is virtually identical to the material adverse change clause in the acquisition agreement. It will only pertain to the target company (not the buyer) and will contain the same exceptions as are customarily found in acquisition agreements (such as changes to the economy, financial markets or political conditions, changes to the borrower's industry, laws or accounting standards or acts of war or terrorism).
Company MAC clauses are seen in acquisition financing commitment letters for financial sponsors. They are intended to give the seller greater certainty that the lenders will fund on the closing date of the acquisition (if there has been no MAC under the acquisition agreement) since the definition of material adverse change that forms a condition precedent to lending is the same as that for the acquisition. Company MAC clauses are only relevant on the closing date. After the acquisition has occurred and the seller is no longer involved in the transaction, the traditional material adverse change clause is used in loan agreements.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • MAC clause — (material adverse change clause) A clause which aims to give the buyer the right to walk away from the acquisition, before closing, if events occur that are detrimental to the target company. MAC clauses are a common feature of public and private …   Law dictionary

  • Mac/Eddy Today — Infobox Magazine title = Mac/Eddy Today | image size = 200px | image caption = editor = Sharon Rich frequency = Tri yearly category = Celebrity, Hollywood, Opera Singers, Superstar (Celebrity) company = Mac/Eddy Club firstdate = September 1977… …   Wikipedia

  • Mac gaming — refers to use of computer games on Macintosh home computers. In the 1990s, Apple computers did not attract the same level of video game development as Windows computers due to the high popularity of Windows and, for 3D gaming, Microsoft s DirectX …   Wikipedia

  • Mac OS X Server — Screenshot of Snow Leopard Server Company / developer …   Wikipedia

  • Mac Publishing — is a publishing company based in San Francisco, California, and is wholly owned by the International Data Group. It is the publisher of Macworld magazine and numerous web sites, including [http://www.macworld.com Macworld.com] ,… …   Wikipedia

  • Mac Tools — is a professional tool company located in Westerville, Ohio. The Mac Tools line line consists of over 8000 professional tools including screwdrivers, ratchets, wrenches, and assorted air tools. Mac Tools also makes its own tool boxes located in… …   Wikipedia

  • Mac Suzuki — マック鈴木 Calgary Vipers No. 91 Pitcher …   Wikipedia

  • mac (Birmingham) — mac mac (formerly Midlands Arts Centre) is a non profit arts centre situated in Cannon Hill Park, Edgbaston, Birmingham, England. It was established in 1962 and is registered as an educational charity which host plays, concerts …   Wikipedia

  • Mac Mini — 2011 Unibody Mac Mini Manufacturer Apple Inc. Release date July 20, 2011 (current release) January 22, 2005 (original release) Introductory price US$599 …   Wikipedia

  • Company of Heroes — Éditeur THQ Développeur …   Wikipédia en Français

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.