Control Concept Sample Clauses

The Control Concept clause defines the circumstances under which a party is considered to have control over an asset, entity, or process within the context of the agreement. Typically, this clause outlines specific criteria such as the ability to direct management decisions, exercise voting rights, or influence key policies, and may reference accounting or legal standards to determine when control exists. By clearly establishing what constitutes control, the clause helps prevent disputes over authority and responsibility, ensuring all parties have a shared understanding of governance and oversight within the contractual relationship.