Finance Deals & Syndicated Lending · glossary
The 90 days after completion in which a fixable problem found only at the newly bought company is treated as not arising. Atlas must not have caused it, and it must not grow into a Material Adverse Effect. It never covers a Major Default. Definition: Clean-Up Period · Chapter 4
Explained in Chapter 4, From Term Sheet to Signing, of Finance Deals & Syndicated Lending.
From completion, the Group includes Solaris and its subsidiaries. So Atlas's promises about the Group suddenly cover a business it has never run. A buyer cannot vouch for a company it did not control. The clean-up period deals with this, for 90 days from completion…Read Chapter 4, From Term Sheet to Signing →
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the period from the date on which the Acquisition completes to (and including) the date falling 90 days after that date;Read the definition in the document →
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