Vorys (Ohio/Texas): What to Do With Your Incentive Agreements in This Challenging COVID-19 Time

In this time of broad government actions due to a declared pandemic emergency, it is important to examine your incentive agreements to understand the potential risks your company faces if your company is unable to perform key obligations.  First, review your incentive agreements to confirm carefully and with specificity your obligations.  Second, closely review the language of your agreements to determine if any of your obligations can be delayed due to a “force majeure” provision, a “market conditions” provision, or a similar provision.  Third, as soon as the crisis begins to abate, and perhaps sooner in certain situations, contact your incentive counterparty to discuss potential options. MORE.

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