Comments on: Bof A’s MAC clause was as porous as swiss cheese http://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html a finance news and opinion site Sun, 21 Mar 2010 15:11:29 +0000 hourly 1 By: Edward Harrisonhttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-8133 Edward Harrison Thu, 11 Jun 2009 21:21:46 +0000 http://www.creditwritedowns.com/?p=8200#comment-8133 material adverse change material adverse change

]]> By: revaughanhttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-8132 revaughan Thu, 11 Jun 2009 21:16:14 +0000 http://www.creditwritedowns.com/?p=8200#comment-8132 What does 'MAC" stand for? What does 'MAC” stand for?

]]> By: Edward Harrisonhttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-5613 Edward Harrison Thu, 11 Jun 2009 15:21:46 +0000 http://www.creditwritedowns.com/?p=8200#comment-5613 material adverse change material adverse change

]]> By: revaughanhttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-5612 revaughan Thu, 11 Jun 2009 15:16:14 +0000 http://www.creditwritedowns.com/?p=8200#comment-5612 What does 'MAC" stand for? What does 'MAC” stand for?

]]> By: Edward Harrisonhttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-5475 Edward Harrison Thu, 11 Jun 2009 14:21:46 +0000 http://www.creditwritedowns.com/?p=8200#comment-5475 material adverse change material adverse change

]]> By: revaughanhttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-5472 revaughan Thu, 11 Jun 2009 14:16:14 +0000 http://www.creditwritedowns.com/?p=8200#comment-5472 What does 'MAC" stand for? What does 'MAC” stand for?

]]> By: Evening Reading: Bonus Madness | OptionHustler.comhttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-4941 Evening Reading: Bonus Madness | OptionHustler.com Thu, 30 Apr 2009 03:00:40 +0000 http://www.creditwritedowns.com/?p=8200#comment-4941 [...] over at Credit Writedowns, Edward Harrison points out that: “Bank of America’s MAC clause could probably never have been invoked because it had a [...] [...] over at Credit Writedowns, Edward Harrison points out that: “Bank of America’s MAC clause could probably never have been invoked because it had a [...]

]]> By: Trade Jim News » Evening Reading: Bonus Madnesshttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-4931 Trade Jim News » Evening Reading: Bonus Madness Wed, 29 Apr 2009 21:31:50 +0000 http://www.creditwritedowns.com/?p=8200#comment-4931 [...] over at Credit Writedowns, Edward Harrison points out that: “Bank of America’s MAC clause could probably never have been invoked because it had a [...] [...] over at Credit Writedowns, Edward Harrison points out that: “Bank of America’s MAC clause could probably never have been invoked because it had a [...]

]]> By: Jimhttp://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-4918 Jim Tue, 28 Apr 2009 23:14:04 +0000 http://www.creditwritedowns.com/?p=8200#comment-4918 Wouldn't the last part of that paragraph given them a MAC, or at least open the door to a legal battle over it?<br><br>(G) changes in the trading price of a party’s common stock, in and of itself, but not including any underlying causes, except, with respect to clauses (A), (B) and (D), to the extent that the effects of such change are disproportionately adverse to the financial condition, results of operations or business of such party and its Subsidiaries, taken as a whole, as compared to other companies in the industry in which such party and its Subsidiaries operate<br><br>Since Merrill tanking was (arguably) disproportional to the rest of the market, seems like condition D wouldn't apply. Lots of double negatives... got to love legalese. Wouldn't the last part of that paragraph given them a MAC, or at least open the door to a legal battle over it?

(G) changes in the trading price of a party’s common stock, in and of itself, but not including any underlying causes, except, with respect to clauses (A), (B) and (D), to the extent that the effects of such change are disproportionately adverse to the financial condition, results of operations or business of such party and its Subsidiaries, taken as a whole, as compared to other companies in the industry in which such party and its Subsidiaries operate

Since Merrill tanking was (arguably) disproportional to the rest of the market, seems like condition D wouldn't apply. Lots of double negatives… got to love legalese.

]]> By: Reading is Overrated |http://www.creditwritedowns.com/2009/04/bof-as-mac-clause-was-as-porous-as-swiss-cheese.html#comment-4917 Reading is Overrated | Tue, 28 Apr 2009 22:11:00 +0000 http://www.creditwritedowns.com/?p=8200#comment-4917 [...] here. Share and [...] [...] here. Share and [...]

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