Rebecca Zaman of 3VB addresses whether Covid-19 will entitle lenders to exercise Material Adverse Change (MAC) clauses in ﬁnancing contracts. MAC clauses are extremely common in ﬁnance documents but have not proved to be particularly useful during past market disruptions. This time, she argues, the extraordinary events triggered by the Covid-19 pandemic may well be enough to trigger a MAC clause. Read the article in full here.
This article was first published in Practical Law in March 2020.