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Legal Update

Delaware Court of Chancery Decision Casts Doubt on the Value of Continuing Director Change of Control Provisions for Lenders

22 June 2009
Mayer Brown Legal Update
The Delaware Court of Chancery’s decision in San Antonio Fire & Police Pension Fund v. Amylin Pharmaceuticals, Inc. raises serious concerns for lenders regarding the protection afforded by “continuing director” change of control provisions in indentures and credit agreements.

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