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- Key Person Clause (meaning + case study) - M A Tactic
In summary, a key person clause is a critical component of business operations and contracts, providing essential protections against the loss of key personnel and ensuring operational stability and decision-making continuity
- Key Person Clause Examples - Law Insider
Key Person The General Partner shall give the Limited Partners and the Parallel Fund Limited Partners written notice promptly after or cease to be active in the Partnership ’s affairs on the basis contemplated by Section 6 13 for any reason (a “ Cessation Event ”)
- Key Person Risk Provisions in Commercial Loan Agreements
Key person risk provisions in commercial loan agreements address risks tied to the loss or absence of crucial business leaders These clauses identify critical individuals, specify triggering events such as resignation or death, and outline lender notification obligations
- Key Man Clause - Definition, Importance, Implementation
Although it is not a requirement for businesses to adopt a key man clause, it is becoming a common trend among businesses that want to protect themselves from the exit of important executives
- Key Man Clause - Rechtsanwalt Marian Härtel - ITMediaLaw
The key man clause protects companies from losses due to the departure of key individuals, such as founders or managers Typical elements include the identification of the key person and triggering events such as death or incapacity to work
- AllenLatta. com. LP Corner: Fund Terms - Key Person Clause
Practically speaking, certain events will prevent a key person from devoting “substantially all of their business time to the activities of the fund” such as death, permanent disability or termination of employment (a key person quits or is fired)
- Key Man Clause - transacted. io
This unfortunate event triggers Homie Capital’s Key Man Clause (Key Person Clause) in the Limited Partnership Agreement The clause dictates that the investment period is automatically suspended for a period of 180 days
- Key Man Clause: Explained for Business Owners - Capital for Life
Key Man Clause: This is a contractual agreement, often found in employment contracts or partnership agreements, that outlines specific actions to take if a key person leaves, becomes critically ill, or dies
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