{"component": "clause", "props": {"groups": [{"samples": [{"hash": "lvS6unmUYKn", "uri": "/contracts/lvS6unmUYKn#takeover", "label": "Stock Option Agreement (Chase David T)", "score": 16.0, "published": true}, {"hash": "kmO0tqqq9A8", "uri": "/contracts/kmO0tqqq9A8#takeover", "label": "Stock Option Agreement (Chase Insurance Corp)", "score": 16.0, "published": true}, {"hash": "kKA1xQAqdVS", "uri": "/contracts/kKA1xQAqdVS#takeover", "label": "Stock Option Agreement (Chase Insurance Corp)", "score": 16.0, "published": true}], "snippet": "The acquisition by any person (defined for purposes of this Agreement to mean any person within the meaning of Section 13(d) of the Securities Exchange Act of 1934 (the \"Exchange Act\")), other than the Company or an employee benefit plan created by the Company's board of directors for the benefit of its Employees, either directly or indirectly, of the beneficial ownership (determined under Rule 13d-3 of the Regulations promulgated by the Securities and Exchange Commission under Section 13(d) of the Exchange Act) of securities issued by the Company having 50% or more of the voting power of all the voting securities issued by the Company in the election of directors at the next meeting of the holders of voting securities to be held for such purpose, and such person acquired such beneficial ownership without prior consent of the Company's board of directors.", "size": 20, "snippet_links": [{"key": "the-acquisition", "type": "clause", "offset": [0, 15]}, {"key": "any-person", "type": "clause", "offset": [19, 29]}, {"key": "agreement-to", "type": "clause", "offset": [60, 72]}, {"key": "meaning-of", "type": "clause", "offset": [100, 110]}, {"key": "securities-exchange-act-of-1934", "type": "definition", "offset": [132, 163]}, {"key": "employee-benefit-plan", "type": "clause", "offset": [216, 237]}, {"key": "by-the-company", "type": "clause", "offset": [246, 260]}, {"key": "board-of-directors", "type": "definition", "offset": [263, 281]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [282, 300]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [323, 345]}, {"key": "beneficial-ownership", "type": "clause", "offset": [354, 374]}, {"key": "rule-13d-3", "type": "definition", "offset": [393, 403]}, {"key": "the-regulations", "type": "clause", "offset": [407, 422]}, {"key": "the-securities-and-exchange-commission", "type": "clause", "offset": [438, 476]}, {"key": "the-exchange-act", "type": "definition", "offset": [500, 516]}, {"key": "issued-by", "type": "clause", "offset": [532, 541]}, {"key": "power-of", "type": "clause", "offset": [587, 595]}, {"key": "voting-securities", "type": "definition", "offset": [604, 621]}, {"key": "company-in", "type": "clause", "offset": [636, 646]}, {"key": "election-of-directors", "type": "clause", "offset": [651, 672]}, {"key": "holders-of", "type": "clause", "offset": [700, 710]}, {"key": "consent-of-the-company", "type": "clause", "offset": [823, 845]}], "hash": "c504443b273a552c84c9b879e027cabe", "id": 1}, {"samples": [{"hash": "8d5E9srMStN", "uri": "/contracts/8d5E9srMStN#takeover", "label": "General Indemnity Agreement (Great Lakes Dredge & Dock CORP)", "score": 26.3415470123, "published": true}, {"hash": "gco8Re0BxPA", "uri": "/contracts/gco8Re0BxPA#takeover", "label": "Indemnification & Liability (Great Lakes Dredge & Dock CORP)", "score": 24.2388782501, "published": true}], "snippet": "SIXTH: Should an Event of Default occur, Surety shall have the right, at its option and in its sole discretion, and is hereby authorized, with or without exercising any other right or option conferred upon it by law or in the terms of this Agreement and/or the Equipment Utilization Agreement, to take possession of any part or all of the work, materials and equipment under any contract or contracts covered by any Bonds and any other materials or equipment which the Surety deems necessary or proper to perform any contractual work referred to in the Bonds, and at the expense of the Contractors and Indemnitors to complete or arrange for the completion of the same. The Contractors and Indemnitors shall promptly on demand pay to the Surety all Loss so incurred; provided, however, that in no event shall any Contractor or Indemnitor indemnify or hold and save harmless the Surety against any Loss arising out of the gross negligence, willful misconduct or illegal act of the Surety.", "size": 5, "snippet_links": [{"key": "an-event-of-default", "type": "definition", "offset": [14, 33]}, {"key": "the-right", "type": "clause", "offset": [59, 68]}, {"key": "sole-discretion", "type": "definition", "offset": [95, 110]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [226, 249]}, {"key": "equipment-utilization-agreement", "type": "definition", "offset": [261, 292]}, {"key": "possession-of", "type": "clause", "offset": [302, 315]}, {"key": "of-the-work", "type": "clause", "offset": [332, 343]}, {"key": "materials-and-equipment", "type": "definition", "offset": [345, 368]}, {"key": "covered-by", "type": "definition", "offset": [401, 411]}, {"key": "other-materials", "type": "definition", "offset": [430, 445]}, {"key": "contractual-work", "type": "clause", "offset": [517, 533]}, {"key": "the-bonds", "type": "clause", "offset": [549, 558]}, {"key": "arrange-for", "type": "clause", "offset": [629, 640]}, {"key": "completion-of-the", "type": "clause", "offset": [645, 662]}, {"key": "on-demand", "type": "clause", "offset": [716, 725]}, {"key": "pay-to", "type": "definition", "offset": [726, 732]}, {"key": "in-no-event-shall", "type": "clause", "offset": [790, 807]}, {"key": "hold-and-save-harmless", "type": "clause", "offset": [850, 872]}, {"key": "any-loss", "type": "definition", "offset": [892, 900]}, {"key": "arising-out-of", "type": "definition", "offset": [901, 915]}, {"key": "gross-negligence", "type": "clause", "offset": [920, 936]}, {"key": "willful-misconduct", "type": "clause", "offset": [938, 956]}, {"key": "illegal-act", "type": "clause", "offset": [960, 971]}], "hash": "cac75cab8a2136c37480f237508f4d95", "id": 4}, {"samples": [{"hash": "9iLItjY0sOg", "uri": "/contracts/9iLItjY0sOg#takeover", "label": "Funding Agreement", "score": 33.7889823914, "published": true}, {"hash": "7AcO0cCvxsu", "uri": "/contracts/7AcO0cCvxsu#takeover", "label": "Funding Agreement", "score": 27.2423000336, "published": true}, {"hash": "eVNYzB42JtP", "uri": "/contracts/eVNYzB42JtP#takeover", "label": "Funding Agreement", "score": 26.7919235229, "published": true}], "snippet": "8.1 We will give you written notice under clause 7 (Default) if we take over the Project. If we so take over the Project:\n(a) you will put at our disposal and under our control, all persons, contracts, equipment and other resources employed or used by you in connection with the Project, provided that we may elect not to take over any contract or obligation of yours which we consider to be unduly onerous (and any costs or liabilities arising in relation to such contracts or obligations as a result of our exercising this right of election will be borne by you);\n(b) we may at our discretion arrange for the Project to be completed by a third party and, if the Primary Platform Owner is listed in Schedule 1 as contributing funding to the Project, we will consult with them to see if they wish to complete the Project; and\n(c) we may complete (or arrange for the completion of) or abandon the Project at our discretion (and we will be deemed to do so as your agent on the terms of this Agreement).\n8.2 To confirm our rights as your agent:\n(a) For the purpose of this clause 8 (Takeover), you hereby irrevocably constitute and appoint us as your attorney- in-fact with full power and authority to do any of the following in connection with the Project:\n(i) make withdrawals from and otherwise deal with funds in the Project bank account;\n(ii) borrow money; enforce, modify, release, compromise or terminate any contract or other right or obligation of yours relating to the Project;\n(iii) engage and discharge Project personnel (subject to employment laws);\n(iv) enter into or terminate any contract relating to the Project;\n(v) acquire or lease or dispose of equipment and other real or personal property relating to the Project;\n(vi) make claims under any policy of insurance relating to the Project; and\n(vii) do all such other lawful acts and things as we may determine is reasonably necessary to exercise our rights under this clause 8 (Takeover) (including executing any power of attorney contemplated by subclause (b) if you fail to do so); and\n(b) you will, if requested by us, execute a Power of Attorney in favour of us or any of our officers in respect of the powers listed in subclause (a).\n8.3 We will not be liable to you, and you will indemnify us against liability to any third party, as a result of any act or omission occurring prior to our exercising our right to take over the Project. Clause 12.5 applies to this indemnity.\n8.4 Without prejudice to our remedies, if we take over the Project under clause 7 (Default), your entitlement to share in the proceeds of any sale, licensing, distribution or other exploitation of any Content will be reduced in such proportion as is equitable in all the circumstances (having regard to the extent which you had met your obligations under this Agreement prior to the takeover and the amount of Project funding provided by you, if any).", "size": 5, "snippet_links": [{"key": "written-notice", "type": "definition", "offset": [21, 35]}, {"key": "under-clause-7", "type": "clause", "offset": [36, 50]}, {"key": "equipment-and-other-resources", "type": "clause", "offset": [202, 231]}, {"key": "in-connection-with", "type": "clause", "offset": [256, 274]}, {"key": "provided-that", "type": "definition", "offset": [288, 301]}, {"key": "in-relation-to", "type": "clause", "offset": [445, 459]}, {"key": "right-of-election", "type": "clause", "offset": [525, 542]}, {"key": "our-discretion", "type": "clause", "offset": [580, 594]}, {"key": "arrange-for", "type": "clause", "offset": [595, 606]}, {"key": "by-a-third-party", "type": "clause", "offset": [635, 651]}, {"key": "primary-platform-owner", "type": "definition", "offset": [664, 686]}, {"key": "schedule-1", "type": "definition", "offset": [700, 710]}, {"key": "complete-the-project", "type": "definition", "offset": [800, 820]}, {"key": "completion-of", "type": "clause", "offset": [866, 879]}, {"key": "your-agent", "type": "clause", "offset": [957, 967]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [975, 998]}, {"key": "our-rights", "type": "clause", "offset": [1016, 1026]}, {"key": "clause-8", "type": "clause", "offset": [1070, 1078]}, {"key": "authority-to", "type": "definition", "offset": [1186, 1198]}, {"key": "funds-in", "type": "definition", "offset": [1305, 1313]}, {"key": "project-bank-account", "type": "clause", "offset": [1318, 1338]}, {"key": "borrow-money", "type": "clause", "offset": [1345, 1357]}, {"key": "relating-to-the-project", "type": "clause", "offset": [1460, 1483]}, {"key": "and-discharge", "type": "clause", "offset": [1498, 1511]}, {"key": "project-personnel", "type": "definition", "offset": [1512, 1529]}, {"key": "subject-to", "type": "definition", "offset": [1531, 1541]}, {"key": "employment-laws", "type": "clause", "offset": [1542, 1557]}, {"key": "dispose-of", "type": "definition", "offset": [1651, 1661]}, {"key": "real-or-personal-property", "type": "definition", "offset": [1682, 1707]}, {"key": "claims-under", "type": "clause", "offset": [1743, 1755]}, {"key": "policy-of-insurance", "type": "clause", "offset": [1760, 1779]}, {"key": "reasonably-necessary", "type": "clause", "offset": [1879, 1899]}, {"key": "to-exercise", "type": "clause", "offset": [1900, 1911]}, {"key": "requested-by", "type": "definition", "offset": [2071, 2083]}, {"key": "a-power-of-attorney", "type": "clause", "offset": [2096, 2115]}, {"key": "in-favour-of", "type": "clause", "offset": [2116, 2128]}, {"key": "in-respect-of", "type": "definition", "offset": [2155, 2168]}, {"key": "indemnify-us", "type": "clause", "offset": [2252, 2264]}, {"key": "act-or-omission", "type": "definition", "offset": [2322, 2337]}, {"key": "right-to", "type": "clause", "offset": [2376, 2384]}, {"key": "applies-to", "type": "clause", "offset": [2420, 2430]}, {"key": "without-prejudice-to", "type": "clause", "offset": [2451, 2471]}, {"key": "our-remedies", "type": "clause", "offset": [2472, 2484]}, {"key": "entitlement-to", "type": "clause", "offset": [2545, 2559]}, {"key": "other-exploitation", "type": "clause", "offset": [2622, 2640]}, {"key": "to-the-extent", "type": "clause", "offset": [2747, 2760]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [2784, 2816]}, {"key": "prior-to-the", "type": "clause", "offset": [2817, 2829]}, {"key": "funding-provided", "type": "clause", "offset": [2865, 2881]}], "hash": "5c7faefbe85e8af20bca0635d571a6d2", "id": 2}, {"samples": [{"hash": "iAFMZL6gw8M", "uri": "/contracts/iAFMZL6gw8M#takeover", "label": "Office Lease", "score": 31.3408622742, "published": true}, {"hash": "6tr5rb8NRQA", "uri": "/contracts/6tr5rb8NRQA#takeover", "label": "Office Lease (2U, Inc.)", "score": 28.1485290527, "published": true}], "snippet": "(a) Simultaneously with the execution of this Lease, Landlord, as subtenant, and Guarantor, as sublandlord, will enter into sublease of the Metroplex Lease substantially in the form of Exhibit P (the \u201cTakeover Sublease\u201d) provided that, as provided in the Takeover Sublease, the effectiveness of the Takeover Sublease shall be subject to the parties obtaining the consent of the landlord under the Metroplex Lease (the \u201cMetroplex Landlord\u201d) to the Takeover Sublease. Each of Landlord and Guarantor shall use all commercially reasonable efforts to obtain the consent of the Metroplex Landlord to the Takeover Sublease. Landlord shall provide to Metroplex Landlord information and materials (i.e., financial statements) it reasonably requests in connection with its consideration of the Takeover Sublease and Landlord. If requested by the Metroplex Landlord, Landlord shall provide a reasonable cash security to Metroplex Landlord, provided that the Metroplex Cap (as such term is defined below) shall be reduced by the amount of such cash security until such cash security is either returned to Landlord or Metroplex Landlord draws on such cash security as the result of a default by Landlord under the Metroplex Lease, at which time, such amount shall be added back to the Metroplex Cap.\n(b) This Lease and Tenant\u2019s obligations hereunder shall not be contingent on the Metroplex Landlord agreeing to or consenting to the Takeover Sublease. However, if Guarantor and Landlord are not able to obtain the consent of the Metroplex Landlord to the Takeover Sublease for reasons other than Landlord\u2019s failure to use commercially reasonable efforts to obtain the consent of the Metroplex Landlord, as provided above, within one hundred twenty (120) days after submission of the Takeover Sublease, together with submission of all additional items pursuant to Section 30.2(a) above, if requested, then (x) the Takeover Sublease shall be void and of no further force and effect (in accordance with its terms), however, pursuant to this Lease, Landlord shall remain obligated to make timely monthly payments of the Metroplex Rent up to a cap of $2,850,000.00 (the \u201cMetroplex Cap\u201d) directly to Guarantor as set forth in the Takeover Sublease, as and when payable under the Metroplex Lease, which payments shall commence on the Lease Commencement Date, and (y) Guarantor and Landlord shall use commercially reasonable efforts to find a third-party subtenant acceptable to Guarantor and Metroplex Landlord, each in their sole discretion (\u201cNew Subtenant\u201d). If Guarantor and Landlord are able to find such a New Subtenant, and such New Subtenant enters into a sublease of the Metroplex Lease with Guarantor, the actual payments by New Subtenant under such sublease attributable to Metroplex Rent shall be paid to Guarantor by such New Subtenant, and Landlord\u2019s monthly payment of the Metroplex Rent shall be reduced by the monthly payment of Metroplex Rent actually received by Guarantor from such New Subtenant.\n(c) In connection with an sale of the Building by Landlord, (i) if the Takeover Sublease is still in effect having been consented to by Metroplex Landlord, provided that Landlord has not subleased or licensed the Metroplex Premises to another unaffiliated occupant, then the Takeover Sublease shall terminate simultaneously with the sale of the Building and Landlord shall prepay in one lump sum the remaining balance of the Metroplex Rent payable by Landlord up to the Metroplex Cap or (ii) if the Takeover Sublease has been voided because Metroplex Landlord did not consent to the Takeover Sublease, then Landlord shall have the option, upon the sale of the Building, to prepay in one lump sum the remaining balance of the Metroplex Rent payable by Landlord up to the Metroplex Cap.", "size": 2, "snippet_links": [{"key": "the-execution", "type": "clause", "offset": [24, 37]}, {"key": "form-of", "type": "definition", "offset": [177, 184]}, {"key": "exhibit-p", "type": "definition", "offset": [185, 194]}, {"key": "provided-that", "type": "definition", "offset": [221, 234]}, {"key": "effectiveness-of-the", "type": "clause", "offset": [278, 298]}, {"key": "the-parties", "type": "definition", "offset": [337, 348]}, {"key": "consent-of-the-landlord", "type": "clause", "offset": [363, 386]}, {"key": "of-landlord", "type": "clause", "offset": [471, 482]}, {"key": "efforts-to-obtain", "type": "clause", "offset": [535, 552]}, {"key": "landlord-shall", "type": "clause", "offset": [617, 631]}, {"key": "information-and-materials", "type": "clause", "offset": [662, 687]}, {"key": "financial-statements", "type": "definition", "offset": [695, 715]}, {"key": "in-connection-with", "type": "clause", "offset": [740, 758]}, {"key": "requested-by", "type": "definition", "offset": [819, 831]}, {"key": "provide-a", "type": "definition", "offset": [871, 880]}, {"key": "cash-security", "type": "definition", "offset": [892, 905]}, {"key": "to-landlord", "type": "clause", "offset": [1090, 1101]}, {"key": "default-by-landlord", "type": "clause", "offset": [1171, 1190]}, {"key": "failure-to-use-commercially-reasonable-efforts", "type": "clause", "offset": [1594, 1640]}, {"key": "submission-of-the", "type": "clause", "offset": [1752, 1769]}, {"key": "additional-items", "type": "clause", "offset": [1821, 1837]}, {"key": "pursuant-to-section", "type": "definition", "offset": [1838, 1857]}, {"key": "force-and-effect", "type": "clause", "offset": [1950, 1966]}, {"key": "in-accordance-with", "type": "clause", "offset": [1968, 1986]}, {"key": "payments-of-the", "type": "clause", "offset": [2087, 2102]}, {"key": "to-guarantor", "type": "definition", "offset": [2178, 2190]}, {"key": "when-payable", "type": "clause", "offset": [2237, 2249]}, {"key": "lease-commencement-date", "type": "definition", "offset": [2314, 2337]}, {"key": "sole-discretion", "type": "definition", "offset": [2506, 2521]}, {"key": "payments-by", "type": "clause", "offset": [2702, 2713]}, {"key": "payment-of-the", "type": "clause", "offset": [2852, 2866]}, {"key": "by-guarantor", "type": "clause", "offset": [2958, 2970]}, {"key": "sale-of-the-building", "type": "clause", "offset": [3022, 3042]}, {"key": "in-effect", "type": "clause", "offset": [3094, 3103]}, {"key": "having-been", "type": "clause", "offset": [3104, 3115]}, {"key": "consented-to-by", "type": "definition", "offset": [3116, 3131]}, {"key": "the-sale", "type": "clause", "offset": [3325, 3333]}, {"key": "lump-sum", "type": "definition", "offset": [3383, 3391]}, {"key": "balance-of-the", "type": "clause", "offset": [3406, 3420]}, {"key": "rent-payable", "type": "definition", "offset": [3431, 3443]}, {"key": "consent-to", "type": "clause", "offset": [3564, 3574]}, {"key": "the-option", "type": "clause", "offset": [3623, 3633]}], "hash": "c37baf203d0a00fb4e39bd4f75ae29db", "id": 6}, {"samples": [{"hash": "7Gdd1Mt9NAP", "uri": "/contracts/7Gdd1Mt9NAP#takeover", "label": "Programme Purchase Agreement", "score": 33.0645942688, "published": true}, {"hash": "8E3PosVkpBp", "uri": "/contracts/8E3PosVkpBp#takeover", "label": "Programme Purchase Agreement", "score": 27.7294654846, "published": true}], "snippet": "16.1 \u2587\u2587 \u2587\u2587\u2587\u2587 or any other third party nominated by \u2587\u2587 \u2587\u2587\u2587\u2587 shall have the right to take over and complete the making of the Programme and exercise the rights set out in Condition 16.2 by giving notice in writing to the Producer at any time where:-\n16.1.1 \u2587\u2587 \u2587\u2587\u2587\u2587 believes in good faith after consultation with the Producer (or between the BBC and \u2587\u2587 \u2587\u2587\u2587\u2587 in the event the BBC is a Sub-Licensee under this Programme Purchase Agreement) that the production and/or delivery of the programme as outlined in the Commissioning Specification or the future viability of the Producer is in jeopardy; or\n16.1.2 the Programme Purchase Agreement is terminated for any reason; or", "size": 2, "snippet_links": [{"key": "other-third-party", "type": "definition", "offset": [20, 37]}, {"key": "right-to", "type": "clause", "offset": [74, 82]}, {"key": "complete-the", "type": "clause", "offset": [97, 109]}, {"key": "of-the-programme", "type": "clause", "offset": [117, 133]}, {"key": "and-exercise", "type": "clause", "offset": [134, 146]}, {"key": "the-rights", "type": "clause", "offset": [147, 157]}, {"key": "set-out", "type": "definition", "offset": [158, 165]}, {"key": "in-condition", "type": "clause", "offset": [166, 178]}, {"key": "notice-in-writing", "type": "clause", "offset": [194, 211]}, {"key": "the-producer", "type": "definition", "offset": [215, 227]}, {"key": "at-any-time", "type": "clause", "offset": [228, 239]}, {"key": "in-good-faith", "type": "clause", "offset": [272, 285]}, {"key": "after-consultation-with", "type": "clause", "offset": [286, 309]}, {"key": "in-the-event-the", "type": "clause", "offset": [355, 371]}, {"key": "a-sub", "type": "clause", "offset": [379, 384]}, {"key": "purchase-agreement", "type": "definition", "offset": [415, 433]}, {"key": "the-production", "type": "clause", "offset": [440, 454]}, {"key": "delivery-of-the", "type": "clause", "offset": [462, 477]}, {"key": "the-commissioning", "type": "definition", "offset": [503, 520]}, {"key": "future-viability", "type": "definition", "offset": [542, 558]}, {"key": "for-any-reason", "type": "clause", "offset": [648, 662]}], "hash": "5539619bb8e37193139162a4427bed12", "id": 7}, {"samples": [{"hash": "4KmyU9WSVe4", "uri": "/contracts/4KmyU9WSVe4#takeover", "label": "Residential Alarm Installation and Services Agreement", "score": 34.3798904419, "published": true}, {"hash": "kEsuronHCcm", "uri": "/contracts/kEsuronHCcm#takeover", "label": "Residential Alarm Installation and Services Agreement", "score": 34.2724342346, "published": true}, {"hash": "aitbXDD3jvk", "uri": "/contracts/aitbXDD3jvk#takeover", "label": "Residential Alarm Installation and Services Agreement", "score": 30.0371170044, "published": true}], "snippet": "If Company is taking over the operation of an existing system at your Premises, you represent that the existing system is and remains your property and you grant the Company the right to inspect, remove, modify or take over such system. The Company has the right to determine which, if any, portions of the existing system Company will takeover (\u201cEligible Equipment\u201d). Eligible Equipment will be listed on the Equipment Location Record. The Company, in its sole discretion, may elect not to take over all or any portion of an existing system, including if it determines that portions are not in good working order or will not operate with the System or the Services. Only Eligible Equipment is deemed part of the System for purposes of this Agreement.", "size": 5, "snippet_links": [{"key": "taking-over", "type": "clause", "offset": [14, 25]}, {"key": "operation-of", "type": "clause", "offset": [30, 42]}, {"key": "existing-system", "type": "clause", "offset": [46, 61]}, {"key": "your-premises", "type": "clause", "offset": [65, 78]}, {"key": "you-represent", "type": "clause", "offset": [80, 93]}, {"key": "your-property", "type": "definition", "offset": [134, 147]}, {"key": "right-to-inspect", "type": "clause", "offset": [178, 194]}, {"key": "the-company-has", "type": "clause", "offset": [237, 252]}, {"key": "to-determine", "type": "definition", "offset": [263, 275]}, {"key": "company-will", "type": "clause", "offset": [323, 335]}, {"key": "eligible-equipment", "type": "definition", "offset": [347, 365]}, {"key": "equipment-location", "type": "definition", "offset": [410, 428]}, {"key": "sole-discretion", "type": "definition", "offset": [457, 472]}, {"key": "good-working-order", "type": "definition", "offset": [595, 613]}, {"key": "the-system", "type": "definition", "offset": [639, 649]}, {"key": "the-services", "type": "clause", "offset": [653, 665]}, {"key": "for-purposes-of-this-agreement", "type": "clause", "offset": [720, 750]}], "hash": "6ecb91db9c3fc1c7d4fe4376a3dbdb62", "id": 3}, {"samples": [{"hash": "dw1cWf3bZwx", "uri": "/contracts/dw1cWf3bZwx#takeover", "label": "Credit Agreement (Pengrowth Energy Trust)", "score": 21.0, "published": true}, {"hash": "5Zq7xJfXBGz", "uri": "/contracts/5Zq7xJfXBGz#takeover", "label": "Credit Agreement (Pengrowth Energy Trust)", "score": 21.0, "published": true}], "snippet": "In the event the Borrower wishes to utilize Borrowings to fund, or to provide funds to any Subsidiary to fund, any offer to acquire (which shall include an offer to purchase securities, solicitation of an offer to sell securities, an acceptance of an offer to sell securities, whether or not the offer to sell was solicited, or any combination of the foregoing) outstanding securities of any person (other than a private issuer as defined under the Securities Act (Alberta) or a corporation or limited partnership whose shares or units are directly or indirectly held by one person) (the \u201cTarget\u201d) where, as of the date of the offer to acquire, the securities that are subject to the offer to acquire, together with the securities of such person that are beneficially owned, or over which control or direction is exercised, by the Borrower and its Subsidiaries and any person acting jointly or in concert with any thereof on the date that the offer to acquire is made, constitute in the aggregate the lesser of such percentage of outstanding securities as is considered to be a \u201ctakeover bid\u201d under any law or regulation applicable to the Target and ten percent (10%) or more of all of the outstanding securities of that class of securities of the person (a \u201cTakeover\u201d), then either:", "size": 4, "snippet_links": [{"key": "in-the-event-the", "type": "clause", "offset": [0, 16]}, {"key": "to-fund", "type": "definition", "offset": [55, 62]}, {"key": "provide-funds", "type": "clause", "offset": [70, 83]}, {"key": "offer-to-acquire", "type": "definition", "offset": [115, 131]}, {"key": "purchase-securities", "type": "definition", "offset": [165, 184]}, {"key": "sell-securities", "type": "clause", "offset": [214, 229]}, {"key": "acceptance-of-an-offer", "type": "clause", "offset": [234, 256]}, {"key": "the-offer", "type": "clause", "offset": [292, 301]}, {"key": "the-foregoing", "type": "definition", "offset": [347, 360]}, {"key": "outstanding-securities", "type": "definition", "offset": [362, 384]}, {"key": "any-person", "type": "clause", "offset": [388, 398]}, {"key": "private-issuer", "type": "clause", "offset": [413, 427]}, {"key": "the-securities-act", "type": "clause", "offset": [445, 463]}, {"key": "a-corporation", "type": "clause", "offset": [477, 490]}, {"key": "limited-partnership", "type": "definition", "offset": [494, 513]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [540, 562]}, {"key": "date-of", "type": "clause", "offset": [615, 622]}, {"key": "subject-to-the", "type": "definition", "offset": [669, 683]}, {"key": "beneficially-owned", "type": "definition", "offset": [755, 773]}, {"key": "control-or-direction", "type": "definition", "offset": [789, 809]}, {"key": "borrower-and-its-subsidiaries", "type": "definition", "offset": [831, 860]}, {"key": "acting-jointly-or-in-concert", "type": "clause", "offset": [876, 904]}, {"key": "in-the-aggregate", "type": "definition", "offset": [980, 996]}, {"key": "lesser-of", "type": "definition", "offset": [1001, 1010]}, {"key": "takeover-bid", "type": "clause", "offset": [1079, 1091]}, {"key": "law-or-regulation", "type": "clause", "offset": [1103, 1120]}, {"key": "applicable-to", "type": "definition", "offset": [1121, 1134]}, {"key": "the-target", "type": "clause", "offset": [1135, 1145]}, {"key": "class-of-securities", "type": "definition", "offset": [1221, 1240]}], "hash": "3e9549059395809c6712b7a8ce17d044", "id": 5}, {"samples": [{"hash": "X2MCEnA9Pj", "uri": "/contracts/X2MCEnA9Pj#takeover", "label": "Fintech Insurance Policy", "score": 34.6064186096, "published": true}, {"hash": "4YlJ71npiMV", "uri": "/contracts/4YlJ71npiMV#takeover", "label": "Fintech Insurance Policy", "score": 27.2518825531, "published": true}], "snippet": "The term \u201c", "size": 2, "snippet_links": [{"key": "the-term", "type": "definition", "offset": [0, 8]}], "hash": "e6abc5b81feb3c0a954d10eb23e67d9b", "id": 9}, {"samples": [{"hash": "khMAa8aeoUp", "uri": "/contracts/khMAa8aeoUp#takeover", "label": "Relationship Agreement (Servicemaster LTD Partnership)", "score": 18.0, "published": true}, {"hash": "8xvRkvrM2XC", "uri": "/contracts/8xvRkvrM2XC#takeover", "label": "Relationship Agreement (WMX Technologies Inc)", "score": 18.0, "published": true}], "snippet": "(a) Except as otherwise provided in this Section 3.2, a \"Takeover\" shall be deemed to have occurred if and when:", "size": 2, "snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [4, 32]}, {"key": "section-32", "type": "definition", "offset": [41, 52]}], "hash": "63a39c71d85fbf5146f92f777cabf4c4", "id": 8}, {"samples": [{"hash": "4TsxnZ5zIdh", "uri": "/contracts/4TsxnZ5zIdh#takeover", "label": "General Terms & Conditions", "score": 25.5722103119, "published": true}, {"hash": "jgKJKkKZj1C", "uri": "/contracts/jgKJKkKZj1C#takeover", "label": "General Terms & Conditions", "score": 24.3360710144, "published": true}], "snippet": "a. A candidate contracted by \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 may not be taken over by the client or any related organization i.e. employed directly without any involvement from \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 or working directly for the client in any similar way, through a third party or otherwise) without written permission from \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587, until that candidate has spent at least 1800 (eighteen hundred) hours working for the client as art of the \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 assignment, and those hours have been invoiced. A longer takeover period is applicable for some clients; this will be confirmed in the assignment confirmation. Takeovers are free of charge after the agreed period.\nb. Any client who does take over the candidate to direct employment within the period referred to in the previous clause will pay compensation to \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 amounting to 50% of the most recent hourly rate multiplied by the difference between the number of hours already worked for the client through \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 and invoiced by \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 and the agreed takeover period. This obligation to pay compensation will remain in force until 12 (twelve) months have passed since the last hour worked for the client through \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 and invoiced by \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587.\nc. Additionally, a client or related organization may not enter into an employment relationship (i.e. employ a candidate directly without any involvement from \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 or have a candidate work directly for the client in any similar way, through a third party or otherwise) without written permission from \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587, with any candidate who has been introduced to the client in the last 12 (twelve) months as part of a (prospective) assignment.\nd. Any client who does enter into an employment relationship as referred to in the previous clause within the period referred to in the previous clause will pay compensation to \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 amounting to 50% of the quoted rate, latest rate or the usual \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 rate, multiplied by 1800 (eighteen hundred) hours. Unless the client has in advance explicitly stated otherwise in writing, this provision will still apply if the candidate introduced to the client by \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 was already known to the client in any way.", "size": 2, "snippet_links": [{"key": "by-the-client", "type": "clause", "offset": [67, 80]}, {"key": "related-organization", "type": "definition", "offset": [88, 108]}, {"key": "a-third-party", "type": "clause", "offset": [240, 253]}, {"key": "written-permission", "type": "definition", "offset": [276, 294]}, {"key": "the-\u2587", "type": "clause", "offset": [420, 425]}, {"key": "takeover-period", "type": "definition", "offset": [497, 512]}, {"key": "assignment-confirmation", "type": "clause", "offset": [575, 598]}, {"key": "free-of-charge", "type": "clause", "offset": [614, 628]}, {"key": "agreed-period", "type": "definition", "offset": [639, 652]}, {"key": "the-candidate", "type": "definition", "offset": [687, 700]}, {"key": "direct-employment", "type": "definition", "offset": [704, 721]}, {"key": "the-period", "type": "clause", "offset": [729, 739]}, {"key": "most-recent", "type": "definition", "offset": [840, 851]}, {"key": "hourly-rate", "type": "clause", "offset": [852, 863]}, {"key": "number-of-hours", "type": "definition", "offset": [905, 920]}, {"key": "obligation-to-pay-compensation", "type": "clause", "offset": [1044, 1074]}, {"key": "remain-in-force", "type": "clause", "offset": [1080, 1095]}, {"key": "employment-relationship", "type": "clause", "offset": [1304, 1327]}, {"key": "to-the-client", "type": "clause", "offset": [1604, 1617]}, {"key": "quoted-rate", "type": "clause", "offset": [1905, 1916]}, {"key": "in-advance", "type": "clause", "offset": [2032, 2042]}, {"key": "in-writing", "type": "definition", "offset": [2071, 2081]}, {"key": "already-known", "type": "clause", "offset": [2180, 2193]}], "hash": "8168fc903d99366fcc500803a8028245", "id": 10}], "next_curs": "ClESS2oVc35sYXdpbnNpZGVyY29udHJhY3Rzci0LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhF0YWtlb3ZlciMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"title": "Takeover", "size": 92, "children": [["no-conflict-by-lenders", "No Conflict by Lenders"], ["takeover-loans", "Takeover Loans"], ["agreement-of-the-target", "Agreement of the Target"], ["termination-suspension-by-owner", "Termination/Suspension by Owner"], ["termination-for-default", "Termination for Default"]], "parents": [["change-of-control", "CHANGE OF CONTROL"], ["the-credit-facility", "The Credit Facility"], ["metroplex-ii-assumption", "Metroplex Ii Assumption"], ["representations-and-warranties-of-the-investors-and-\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587", "Representations and Warranties of the Investors and \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587"], ["takeover-commitments", "Takeover Commitments"]], "id": "takeover", "related": [["takeover-statutes", "Takeover Statutes", "<strong>Takeover</strong> Statutes"], ["anti-takeover-statutes", "Anti-Takeover Statutes", "Anti-<strong>Takeover</strong> Statutes"], ["business-combination", "Business Combination", "Business Combination"], ["takeover-statute", "Takeover Statute", "<strong>Takeover</strong> Statute"], ["antitakeover-statutes", "Antitakeover Statutes", "Antitakeover Statutes"]], "related_snippets": [], "updated": "2025-07-17T06:09:22+00:00", "also_ask": ["What key protections should be included to prevent hostile takeovers?", "How can the clause be tailored to maximize negotiation leverage for the target company?", "What are the most common legal pitfalls or unenforceable provisions in takeover clauses?", "How do takeover clause standards differ across major jurisdictions?", "What factors do courts consider when determining the enforceability of takeover restrictions?"], "drafting_tip": "Define 'takeover' precisely to avoid ambiguity; specify triggering events to ensure clarity; outline parties' rights and obligations to facilitate enforceability.", "explanation": "The Takeover clause defines the conditions under which one party may assume control or responsibility for a project, contract, or asset from another party. Typically, this clause outlines the specific events or failures\u2014such as non-performance, insolvency, or breach of contract\u2014that trigger the right to take over, and it may detail the process for notification, transition, and any compensation involved. Its core practical function is to provide a clear mechanism for ensuring continuity and protecting interests if the original party cannot fulfill their obligations, thereby minimizing disruption and risk."}, "json": true, "cursor": ""}}