There are multiple definitions - click on the translation that matches your context.

alteração adversa relevante



material adverse change


  • MAC

Comparative law notes

In Brazil, the expression "cláusula MAC" is commonly used when referring to the material adverse change clause in M&A agreements.

Definitions of material adverse change

serious deterioration in the borrower's credit standing

The credit agreement contains a prohibition on borrowing in the event of a material adverse change.