Lockout Clause/Lockout Agreement

Lockout Clause/Lockout Agreement for Commercial Transactions


This Lockout Clause or Lockout Agreement can be used when the intention is to prevent the two parties concerned from discussing with any third party a possible transaction which would compete with the one under discussion between the two parties. Typically this document could be used at the stage of pre-contract discussions to prevent the parties from entering into parallel negotiations with a third party.

This document is designed to be used either as a stand-alone agreement or as part of any pre-contract agreement which precedes a definitive agreement setting out all of the terms of a commercial transaction.

This Lockout Clause (Commercial Transactions) is similar to the one which is included as part of the Memorandum of Understanding (Commercial Transactions).

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