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Bouncing Back January 28, 2021 | Issue No. 20 - English Courts Consider Material Adverse Effect Clause Invoked by the Effects of the COVID-19 Pandemic | Cadwalader, Wickersham & Taft LLP

In the recent case of
Travelport Ltd v Wex Inc [2020] EWHC 2670 (Comm) (the “Travelport Case”), the High Courts of England considered the construction of a material adverse effect clause (“MAE Clause”) in which a party sought to invoke the provision as a result of the effects of the COVID-19 pandemic. Given the prevalence and importance of MAE Clauses in many commercial contracts such as facility agreements and acquisition agreements, we explore in this article the issues that the UK Courts considered when determining the construction of this MAE Clause in the context of a global pandemic.
MAE Clauses
An MAE Clause aims to give parties to a contract a way out of their contractual obligations if an event that causes a material adverse change or effect occurs. A key part to a MAE Clause is the definition of what constitutes a material adverse change, as this will be the trigger in which a party then becomes entitled to exercise its rights under it. ....

United Kingdom , Nett International Jersey , Optal Limited , Wickersham Taft , Travelport Ltdv Wex Inc , World Health Organisation , Travelport Ltd , Wex Inc , High Courts , United Kingdom Courts , Travelport Case , Nett International , Material Adverse Effect , Adverse Effects , Pandemic Carve Out , Law Carve Out , Carve Out Exception , Political Conditions Is Just , ஒன்றுபட்டது கிஂக்டம் , நெட் சர்வதேச ஜெர்சி , ஒப்தல் வரையறுக்கப்பட்டவை , விக்கர்ஷாம் ட்யாஃப்ட் , உலகம் ஆரோக்கியம் ஆர்கநைஸேஶந் , பயணப்பணி லிமிடெட் , உயர் நீதிமன்றங்கள் , ஒன்றுபட்டது கிஂக்டம் நீதிமன்றங்கள் ,

Detailed text transcripts for TV channel - FOXNEWS - 20131023:03:44:00

hobby lobby. and march. what s hobby lobby. a craft store. and a christian bookstore. they went to a judge months ago back in july. the judge says i m giving you a temporary exemption from obama care for supplying the morning after pill. this is a federal judge. yes. federal judge. very important here. they are going to win. they are already saying we will give birth control, 16 different kinds of birth control. no doubt about it it? we don t want to give you the morning after pill. they have a specific objection which is reasonable and well within their rights. i think the u.s. supreme court will hear this. i think they will prevail. this is an issue right for discussion and important one. the supreme court says you can t force the hobby lobby or anyone else to buy into obama care if the morning after pill is provided. that shatters. do you know how many people are going to get out of it by that? it will make that a carve out exception. the reason why i thi ....

Obama Care , Hobby Lobby , Craft Store , Birth Control , The Morning After Pill , Federal Judge , No Doubt , Us Supreme Court , Two Oklahoma , Carve Out Exception , Catholic Churches ,

Detailed text transcripts for TV channel - FOXNEWS - 20131023:00:44:00

Christian-based and says. hobby lobby. and march. what s hobby lobby. a craft store. and a christian bookstore. they went to a judge months ago back in july. the judge says i m giving you a temporary exemption from obama care for supplying the morning after pill. this is a federal judge. yes. federal judge. very important here. they are going to win. they are already saying we will give birth control, 16 different kinds of birth control. no doubt about it it? we don t want to give you the morning after pill. they have a specific objection which is reasonable and well within their rights. i think the u.s. supreme court will hear this. i think they will prevail. this is an issue right for discussion and important one. the supreme court says you can t force the hobby lobby or anyone else to buy into obama care if the morning after pill is provided. that shatters. do you know how many people are going to get out of it by that? it will make that a carve out excep ....

Hobby Lobby , Craft Store , Obama Care , Birth Control , The Morning After Pill , Federal Judge , No Doubt , Us Supreme Court , Two Oklahoma , Carve Out Exception , Catholic Churches ,