Lockout Clause/Lockout Agreement

Lockout Clause/Lockout Agreement for Commercial Transactions

BS.DC.29

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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