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- videocam On-Demand Webinar
- signal_cellular_alt Intermediate
- card_travel Commercial Law
- schedule 90 minutes
M&A Agreements: Limitations on Contractual and Extra-Contractual Liabilities
Crafting Exclusive Remedy, Extra-Contractual Representation Waiver, and Other Risk Mitigation Provisions
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About the Course
Introduction
This CLE course will prepare M&A deal counsel to draft contracts to protect sellers from post-closing liability. The panel will discuss how courts have analyzed different limitation of liability provisions and how they impact buyers and sellers.
Description
Effective limitation of liability clauses in M&A agreements thwart dissatisfied parties who may attempt to evade the contractual limits. In today's economic environment, such parties have a greater incentive than before to pursue such evasion and perhaps more potential opportunities to do so. Such parties may assert allegations of fraud or misrepresentation and/or claim inaccuracies of pre-contractual representations and contractual warranties.
For seller's counsel, the goal is to limit all potential claims of breaches of the representations and warranties set forth only in the four corners of the agreement. Deal counsel must craft contract language to maximize the likelihood of enforcement of the exclusive remedy provisions in the contract, minimizing risk to the seller of contractual and extra-contractual post-closing liability in M&As.
Listen as our authoritative panel of M&A attorneys prepares counsel to craft contracts that limit contractual and extra-contractual liabilities, focusing on sources of existing and potential new extra-contractual liabilities, ways to protect parties through due diligence, voluntary disclosure and discussion, pricing, holdback/"basket" structuring, auction and negotiating processes, and exclusive remedy and extra-contractual representation disclaimer and waiver provisions.
Presented By
Ms. Brooks concentrates her practice in general business and commercial law. She counsels clients in mergers and acquisitions, purchases and sales of businesses, commercial finance, private offerings of debt and equity securities, and life science transactions, and shareholder derivative matters, including shareholder demand responses and special committee issues. Ms. Brooks has experience representing public companies, privately owned and managed companies, nonprofit organizations and start-up companies and provides general counsel to these organizations regarding corporate matters. Prior to joining Saul Ewing Arnstein & Lehr, she participated in Washington University School of Law's D.C. Clinic, through which she was an intern to the United States House Judiciary Committee. In this capacity, she drafted legal memoranda to assist Congressman John Conyers, Jr. and the Congressman's legislative assistants at Judiciary Committee hearings and briefings.
Mr. Coogan represents private equity, venture capital, and other investment firms--as well as privately held companies--in mergers and acquisitions, securities offerings, venture capital financings, and the establishment of startup and emerging businesses. His clients invest in and operate enterprises spanning a range of industries, including technology, manufacturing, business services, consumer products, and health care. He also works with institutional investors in the purchase, sale, financing, and operation of their portfolio companies. As outside general counsel to private companies, Mr. Coogan advises on legal and business matters, such as regulatory matters, entity formation, corporate governance, capitalization, equity compensation, capital raising, and customer or vendor contracts.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Live Online
On Demand
Date + Time
- event
Tuesday, June 16, 2026
- schedule
1:00 PM ET/10:00 AM PT
I. Sources of extra-contractual liability: traditional and potential new ones; innovative uses of force majeure and MAC provisions
II. Protecting parties through due diligence, disclosure, pricing/breakup and other fees, auction, and negotiation process
III. Protecting parties through exclusive remedy and extra-contractual representation waiver provisions
IV. Lessons from recent case (and statutory/regulatory) law
The panel will review these and other critical questions:
- What are best practices for drafting, negotiating, due diligence, and pricing strategies for limiting contractual and extra-contractual liabilities when drafting M&A agreements?
- How have the courts analyzed exclusive remedy and extra-contractual representation and waiver provisions in M&A contracts?
- How can parties achieve protection from extra-contractual liabilities during the negotiation process?
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