Corrs Corporate Advisory: Big MACs and how to use them

12 April 2006

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"Material adverse event" (MAE) or "material adverse change" (MAC) clauses are common features of acquisition agreements. The two terms are similar but not necessarily interchangeable. "MAE" tends to be used in the Australian context and "MAC" in the US context. They aim to give a purchaser the right to terminate, if events occur that are materially detrimental to the target assets or company.

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