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In our previous two articles in this series (see Part I and Part II) we covered how parties may rely on force majeure clauses or on the doctrines of frustration, impossibility or impracticability of performance as defences to non-performance or delayed performance as a result of the impacts of COVID-19.
In Part III of the series, we address how parties may be able to rely on Material Adverse Change or Event (MAC) clauses, which are regularly found in certain types of agreements, such as investment agreements, project financing documents and debt arrangements. Click here to read the full article.