Contract Termination Clause Guide

Summary

A Change of Control clause in a contract allows termination or renegotiation if a companys ownership changes and the new owners creditworthiness is unsatisfactory. This clause is useful for protecting your interests in business agreements. Consider consulting a legal professional for precise wording and implementation.

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what is change of control
A "Change of Control" clause addresses situations where the ownership or control of a company changes hands. It allows parties to terminate or renegotiate the contract if the new owner's creditworthiness or other relevant factors are unsatisfactory.
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