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Ordinary, Not So Ordinary: But of Course!

March 09, 2021 (1 min read)

Post-2020, folks are likely still wondering: what’s ordinary? While there doesn’t appear to be a ready answer for this question generally, the Delaware Court of Chancery has provided guidance for M&A practitioners to consider when drafting ordinary course covenants. To no one’s surprise, you may discover that what you thought is ordinary is not so ordinary after all. In case you missed it, check out this Practical Guidance Client Alert Digest on the Delaware Court of Chancery’s precedential AB Stable decision and what this could mean for your clients.

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