Effect of a Change Clause Samples
The "Effect of a Change" clause defines how modifications to a contract or agreement impact the rights, obligations, and performance of the parties involved. Typically, this clause outlines the process for documenting changes, such as amendments or addenda, and specifies which terms are altered and which remain in force. For example, if a project scope is expanded, this clause would clarify how timelines, costs, or deliverables are adjusted accordingly. Its core practical function is to ensure that all parties have a clear understanding of the consequences of any agreed-upon changes, thereby preventing disputes and maintaining contractual certainty.
Effect of a Change in Control If a Change in Control occurs prior to the completion of all of the Vesting Dates, then you will be entitled to receive, no later than thirty (30) days following the effective date of the Change in Control, the unvested Total Number of Shares covered by this Award Agreement. 4. Payment (a)
Effect of a Change in Control If a Change in Control occurs during the Performance Period, then you will be entitled to receive, no later than thirty (30) days following the effective date of the Change in Control, the Total Target Number of Shares covered by this Award Agreement without regard to the extent to which the otherwise applicable performance conditions of Section 2 above have been satisfied. 5. Payment (a)
Effect of a Change. In Control of Supplier: Notwithstanding any other provision of this Agreement, in the event over fifty percent (50%) of the outstanding equity securities of the Supplier is, directly or indirectly, acquired by one person or entity (a “Change in Control”), then Supplier shall have the right, in its sole discretion, to select either of the following courses of action:
(i) Supplier may convert Distributor’s rights under this Agreement from exclusive to co-exclusive (permitting Supplier to sell either directly in the Territory or through one other distributor), which conversion shall be effective [ * ] after Supplier notifies Distributor of its election to make such conversion. Following such conversion, Distributor shall transfer all Regulatory Approvals (including the Shonins) to Supplier upon payment by Supplier of [ * ].
(ii) Supplier may terminate this Agreement in its entirety, which termination shall be effective upon payment to Distributor of [ * ]. Following such termination, Distributor shall transfer all Regulatory Approvals (including the Shonins) to Supplier upon payment by Supplier of an additional [ * ]. Neither the conversion to a co-exclusive appointment set forth in subsection (i) above nor the termination set forth in (ii) above shall be effective prior to [ * ] after reimbursement approval in Japan.
Effect of a Change of Control On or After One Year -------------------------------------------------- Anniversary. In the event that the Company signs and closes a Change of Control ----------- on or after the One Year Anniversary, then as of immediately prior to the closing of the Change of Control, the vesting and exercisability of the Option shall accelerate such that the Executive will be deemed to have vested in all of the Option Shares.
Effect of a Change in Control of the RSA Certificate is hereby deleted in its entirety and replaced in full with the following: