Terms and Conditions of Contracts for Projects from POME by Gautam Koppala VT
Change in Control clause typically allows a buyer to terminate a contract if the ownership, management, or control of the seller changes. A buyer may have a genuine concern regarding the possibility or effect of a change in control of its supplier. A change in control conceivably could impact the supplier’s ability to reliably perform or result in a competitor owning the supplier. The buyer avoids these risks with a Change in Control clause. Change in Control language may be proposed as a stand-alone clause or embedded in a termination clause.
As a large public company, Project/ Product/ Services Organization’s ownership, management, and control can change at any time. In fact, such changes routinely occur in large public companies without any effect on the companies’ ability or willingness to meet its commitments. Including a typical Change in Control
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