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What is a change in control?

Change of Control means the sale of all or substantially all the assets of a Party; any merger, consolidation or acquisition of a Party with, by or into another corporation, entity or person; or any change in the ownership of more than fifty percent (50%) of the voting capital stock of a Party in one or more related

What is a change of control payment?

Change of Control Payments means any bonus, retention, termination, severance or other similar payment obligation of the Company, New co or any Sold Subsidiary as a result of the consummation of the transactions contemplated by this Agreement to any present or former director, officer, shareholder, employee, independent

What is a change in control severance agreement?

CHANGE OF CONTROL SEVERANCE AGREEMENT. This Change of Control Severance Agreement (the Agreement) is made and entered into by and between (Executive) and Bluer Corporation (the Company), effective as of (the Effective Date).

Is change of control an assignment?

An assignment clause in a contract states whether a party has the right to assign or novate the contract to a third party. Typically, a change of control clause will state that a party may terminate the contract if there is a change of control of the other party.

Is a merger an assignment under New York law?

There is an established body of law in New York that stands for the general principle that mergers do not constitute assignments. A merger brings about changes in corporate structure, the Court reasoned, and does not involve separation or divestment of corporate assets.

Is a merger an assignment under Delaware law?

The Court's ruling confirms that, under Delaware law, reverse triangular mergers do not result in the assignment, by operation of law or otherwise, of agreements held by a target company. The decision also highlights the fact that it is limited to transactions and agreements governed by Delaware law.

How is an assignment made by operation of law?

Assignment by Operation of Law [Party A] agrees that it will not assign, sublet or otherwise transfer its rights hereunder, either voluntarily or by operations of law, without the prior written consent of [Party B].

What does assignment of rights mean?

An assignment of rights agreement refers to a situation in which one party, known as the assignor, shifts contract rights to another party. The party taking on the rights is known as the assignee.

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