![]() Even before the pandemic, we were seeing an increasing number of MAC provisions in U.K. as market uncertainties deriving from the pandemic continue to develop. transactions, might become more common in the U.K. ![]() ![]() This has raised the question as to whether the use of MAC provisions, which are prevalent in U.S. However, a recent case regarding the interpretation of a MAC provision has shed some light on the issue and has also served as a reminder as to the importance of accurate drafting. Analysis focussed principally on whether existing force majeure or material adverse change (“MAC”) provisions might be triggered as a result of the pandemic and, to a lesser extent, whether the English law doctrine of frustration might apply.įor obvious reasons, there has been very little guidance on how these provisions might be interpreted by the English courts in the context of COVID-19.
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