- Brexit and Material Adverse Change clauses
- Does the result in the EU referendum mean that MACs will be triggered in credit agreements and mandate letters?
- What is the difference between a 'business MAC' and a 'market MAC'?
- What do 'business MACs' drive at?
- I have a business MAC in my loan agreement or underwrite—is it triggered?
Banking & Finance analysis: David Campbell, a partner in Allen & Overy’s banking department, considers whether the result in the EU referendum means that Material Adverse Change clauses (MACs) are triggered in credit agreements and mandate letters.
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