With widespread application in M&A transactions, MAC clauses are a very useful instrument since, as a rule, they allow the buyer to withdraw from a transaction in case of significant adverse changes that discourage the economic aim of the contract.
Force majeure and rebus sic stantibus clauses are particularly relevant in the context of the COVID-19 health crisis. These legal instruments allow for a modification of the terms of contracts in extraordinary and unpredictable circumstances such as at present.
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