Start Searching the Answers
The Internet has many places to ask questions about anything imaginable and find past answers on almost everything.
Materiality means analyzing which issues are the most important of being addressed by businesses. … In other words, a materiality analysis is a methodology a company can use to identify and estimate possible Environmental, Social and Governance (ESG) which might impact the business and its stakeholders.
Material issue is an issue that must be decided in order to resolve a controversy. It is an issue of legal consequence or other importance. The existence of a material issue of disputed fact precludes summary judgment.
The popular belief among dealmakers has been that Delaware is generally “pro–sandbagging” meaning that, absent an express provision barring post-closing claims for known breaches (i.e., an “anti-sandbagging provision”), pre-closing knowledge of a breach is not a bar to seeking indemnification recovery as actual …
A tipping basket is a threshold set so that when the buyer’s losses exceed it, the seller is liable for the total number of the losses. This requires the buyer to meet an insurance-like deductible before the seller would be required to make the buyer whole.
Indemnification Assets means any indemnification right or claim of the Acquired Companies or Related Consolidated Entities recognized as a Current Asset under the Accounting Principles and which represents a claim of Seller or any of the Acquired Companies or Related Consolidated Entities against third parties, but …
However, most indemnification provisions cover tort claims or allocate risk for third-party claims. Since a party might not become aware of these claims until after the contract termination, those indemnification provisions should survive termination.
An arbitration clause in a contract is generally regarded as an autonomous agreement that may survive the termination of the contract that contains it.
One common error with indemnity clauses is that the clause is too broad. If tested in court, the overly broad indemnity clause may be found unenforceable, as it goes against public policy to allow such comprehensive indemnification. Another common problem in indemnity clauses is “hand-me-down” copy.
Common obligations covered by Survival clauses include Confidentiality, Non-Competition, and Effect of Termination. After these core obligations, the Survival clause can be highly deal-specific, with certain representations, warranties, and other obligations also continuing.
As such, in the absence of words in the contract evidencing a contrary intention, clauses specifically referring a dispute to arbitration generally survive termination of the underlying contract.
Survival clauses cause certain provisions of a contract to remain valid after the expiration or termination of a contract. These types of clauses are typically used in non-disclosure agreements and non-competition provisions, as well as indemnities and insurance provisions.
Accrued rights refer to rights that are established and backed by legal authority and are capable of demanding remedy to any wrongs committed.
If the contract contains no express provision on termination, a term allowing termination on reasonable notice may sometimes be implied. … More formal relationships are likely to require greater notice of termination. the length of the commercial relationship and how much the parties have invested in it.
To accrue means to accumulate over time—most commonly used when referring to the interest, income, or expenses of an individual or business. Interest in a savings account, for example, accrues over time, such that the total amount in that account grows.
A survival term outlines the provisions or terms of the contract that remain in effect after the other terms have been met and the contract has been executed. Since a non-disclosure agreement has a unique and sensitive nature, the terms in a survival clause are often required, not optional.