Terms and Conditions of Contracts for Projects from POME by Gautam Koppala VT
to the judgment of the deal team and their legal counsel.
Project/ Product/ Services Organization recommended Standard Clause:
Change in Control
Buyer may terminate this Agreement without cause upon 90 days written notice to Seller upon a Change in Control that results in a transfer of this Agreement to a direct competitor of Buyer and a material adverse impact on Buyer’s interest in this Agreement. If Buyer terminates Seller under this section, Buyer will pay Seller a termination fee equal to, as per the payments sufficient to mitigate the financial impact. The termination fee will be due to be kept within 30 days of receipt of invoice from Seller. “Change in Control” means: (1) a merger, consolidation, or reorganization involving all or substantially all of the assets of Seller that results in a change in the effective control of
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