Step In Agreement

In addition, the parties are free to agree that step-in rights can be implemented during the occurrence of other events. Nevertheless, the company in which it invests should be allowed to do everything in its power to resolve the problems and mitigate the consequences of a delay or infringement within a reasonable period of time. However, the registration concord is still applicable if there is a good chance that the company will again achieve below-average results. As a result, step-in rights often arise in warranty warranties, for example. B between lenders and subcontractors or consultants or, to guard against the insolvency of the contractor (or a “senior advisor”), between clients and subcontractors or subcontractors. . . .